Economy on 'decent' path, survey shows
Though the stock market swooned last week on concerns about slower growth, a panel of 55 top economists expects comfortable expansion ahead, with moderate job growth and moderate inflation.
The median projections of economists surveyed April 7-13 were that the U.S. economy will grow at a roughly 3.5% annual pace through mid-2006, with consumer spending growing about 3.2% through the end of 2005 and 3.1% into the second quarter of 2006. Retail inflation is expected to level at 2.7%, then fall to 2.5%.
Recent softer-than-expected data, including a record U.S. trade deficit in February and slower job growth and retail sales in March, prompted investors' concerns that the economy cooled in the first quarter. The USA TODAY survey looks at the second quarter through mid-2006.
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Source - USATODAY
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