Economists see U.S. GDP growing this year, although they've ratcheted down their expectations for the pace of that expansion. Just 3% of those surveyed by the National Association of Business Economists earlier this month expect the U.S. economy to grow at a pace of more than 3% this year, down from 20% in July and 24% in April. The latest NABE survey shows that 51% of the economists expect GDP to expand between 2.1% and 3% this year, while 44% see it growing between 1.1% and 2%.
The economists, 45% of whom work at companies with more than 1,000 employees, are a little more upbeat about their own companies. Fifty-nine percent say their companies saw demand pick up in the latest quarter, which is the highest reading in five years, and 39% cited an increase in profit margins, up from 25% in July. And 37% of those surveyed say their companies increased capital spending in the latest quarter, up from 24% in July.
A summary of the survey is available here.
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