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US to See Slower Growth

US to See Slower GrowthUS to See Slower Growth

The pace of US economic growth will stay stuck in the low 2% range in 2017 and 2018, far slower than the 3% pace President Donald Trump has been touting, according to the latest survey of nearly four dozen economists by the National Association for Business Economics, Yahoo reported. The economy’s trajectory was unchanged from the NABE’s last survey in June, with economists still expecting the economy to grow 2.2% in 2017 and 2.4% next year. Although the economy has been picked up steam in recent quarters, “a weak start to the year is expected to hold the average annual GDP growth rate in 2017 to 2.2%,” NABE vice president-elect Kevin Swift, who is chief economist and managing director for the American Chemistry Council, said. On the bright side, the odds of recession for this year and next remain low, according to the survey.

 

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