Survey: Economists Forecast Growth

Survey: Economists Forecast Growth

Economists surveyed by The Wall Street Journal forecast slow but steady economic growth through the middle of 2011.

The key to economic growth will be increased employment, but economists say that the decrease in joblessness will be slow, falling from an employment rate of 9.7 percent now to 8.6 percent by the end of December 2011.

Meanwhile, Federal Reserve Chair Ben Bernanke, speaking to the U.S. House Budget Committee, wouldn’t deny the possibility of a double-dip recession, but he said that it appears to the Fed that “the recovery has made an important transition from being supported primarily by inventory dynamics and by fiscal policy toward a recovery being led more by private final demand."

Source: The Wall Street Journal, Phil Izzo (06/09/2010)