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Business Economists Boost 2015-2016 Outlook For US Economy, Cite Job Growth, Consumer Spending
A business economics group has boosted its outlook for U.S. economic improvement this year and next, particularly for job growth.
The March report from the National Association for Business Economics forecasts more hiring, a lower unemployment rate, a lower inflation rate and more growth in consumer spending in 2015, compared to the group's forecast December 2014.
The report, released early Monday, also predicts more investment by businesses in both equipment and intellectual property, as well as modest growth in stock prices.
"Healthier consumer spending, housing investment and government spending growth are expected to make outsized contributions to the projected acceleration in overall economic activity. Accordingly, recent labor market strength is expected to continue," John Silvia, the association's president and the chief economist at Wells Fargo, said in a statement.
Read the full story: www.foxbusiness.com
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