The National Association for Business Economics produced some figures in its quarterly Business Conditions survey yesterday that ought to raise the eyebrows of anybody who has been paying attention to the debates over the pace of the economic recovery and, specifically, the persistently high unemployment rate.
The news was virtually all good when NABE members gathered for a teleconference with the news media on Monday to discuss a poll of 85 business economists.
"Panelists have become more sanguine about the overall economic outlook," said Ken Simonson, survey analyst and chief economist, Associated General Contractors of America. "Nearly one-quarter of respondents expect growth in the economy over the next 12 months to exceed 3 percent. That's triple the share who expected this higher growth rate in the previous survey figure. As before, none of the survey respondents expects growth to be negative."