GO
Loading...

Enter multiple symbols separated by commas

Economists See More Reasons for Optimism: NABE

Economists are increasingly confident that key segments of the U.S. economy will improve this year.

hiring_sign_200.jpg

The National Association for Business Economics says forecasters have raised their expectations for employment, new home construction and business spending.

But they held on to their average prediction that America's gross domestic product, or GDP, will grow at a rate of 2.4 percent, with stronger growth happening in the second half of the year.

That's a slight improvement from 2011.

NABE economists see the unemployment rate sticking at 8.3 percent this year, matching January figures. That's improved from their November forecast of 8.9 percent.

In housing, economists predict builders will break ground on 700,000 homes this year, up 15 percent compared with 2011. They predict 850,000 will be built in 2013.

Panelists are also still forecasting strong business spending growth this year.

The survey was conducted Jan. 26 to Feb. 8.

Contact Europe News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Europe Video

  • UK polls show race tied

    Who's going to walk into 10 Downing Street as the U.K.'s Prime Minister? Damian Lyons Lowe, CEO of Survation, weighs in with his thoughts on the U.K. party leaders.

  • Europe shares end mostly higher as euro rallies

    European equities closed mostly higher on Wednesday as investors reacted to a slew of earnings reports and new economic data, as the euro rallied against the dollar.

  • UK elections: Who's better for business?

    Ahead of the UK elections, Bill O'Neill, head of the UK investment office at UBS Wealth Management, talks about which UK political party would be better for business, especially with the heated discussion on an EU referendum.