Skip to comments.NABE: Economists Are Getting More Optimistic About The US Economy
Posted on 02/27/2012 11:15:15 AM PST by blam
NABE: Economists Are Getting More Optimistic About The US Economy
Febuary 27, 2012
NEW YORK (AP) Economists are increasingly confident that some pillars of the U.S. economy will improve this year, but they still remain cautious in their expectations on the overall pace of economic growth.
The National Association for Business Economics said Monday that forecasters have raised their expectations for employment, new home construction and business spending this year. 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. That's a slight improvement from 2011, when economists believe the economy grew 1.6 percent. Final economic growth numbers for 2011 are due out Wednesday.
GDP reflects the economy's total output of goods and services. The latest forecast is in line with one issued by the group in November that called for the economy to grow 2.4 percent this year. Forecasters predict growth will be stronger in the second half of 2012 than it will be through June.
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. Unemployment peaked at 10 percent in October of 2009. The economists expect job growth to accelerate next year, and forecast the unemployment rate will fall to 7.8 percent. GDP growth needs to be above 3 percent to significantly lower unemployment.
(Excerpt) Read more at businessinsider.com ...
Vote for Obama.
$5.00 gas will keep its heavy boot on any recovery
And I say...baloney!
Hmmm that’s nice....
more ministry of truth LIES. you vill vote obama. ja?
Are these the same ‘economists’ who announced that we are in recovery mode back in 2009? Or are they the same experts’ or actors like those “doctors” Odumbo trotted out on stage back when Obamacare was being implemented?
It’s hard to keep up with Obama’s bullsh*t...
This is an AP story.
Pay attention and you will see more of these manufactured stories painting positive pictures of the economic future.
This is not the first AP story to do so.
Your local media outlets (TV, radio news, print) have been carrying this and similar AP stories, and will continue to do so until election day. Your neighbors will see, hear, and read them and largely believe them.
Conservatism will not be widely accepted until the AP and the other wire services are toppled and replaced.
My first thought as well.
I would think that it is market forces betting that Obama will not in for a second term, nothing more. Obama’s sole role has been to weaken America at every step.
This lie could only work when positive thinking has a chance at impacting the economy. This economy is way beyond turning on a whim. Having the town criers shouting out their propaganda about plenty while everyone is losing ground, will only further disillusion people. A few of Obama’s hopeful might swallow the swill for awhile, but they too will get sick of it.
Not necessary to read any further after that. 2.4% is terrible. We will be barely treading water.
Well whaddayaknow... isn't 7.8% the Obama-gets-reelected number?
As the Fed pumps billions into the economy hoping the bust occurs AFTER Obama is reelected.
During the Bush years the AP has stories everyday about how bad the economy was and profiled struggling families.
You are 100% correct. I posted another like this from the AP yesterday.
Consumer confidence will skyrocket when it becomes clear the clown will not be reelected. Once he has officially lost, jobs will be created in much the same way jobs were lost in the wake of Obama’s grip on power.
Local media libs are very devoted to their religion. They are also susceptible to changing their tune if pressured with phone calls to their bosses.
Bernanke has even predicted sluggish;
Bernanke Not Fooled by Recent Unemployment Gains
In his testimony before the Senate Budget Committee last week, Bernanke said that even with an improving outlook, the U.S. economy will grow at a sluggish rate for the remainder of the year.
Just think back to the Great Lie of the '92 Presidential campaign - "Worst economy in 50 years".
It had clearly been far worse a mere 12 years earlier, during the dying days of the Carter administration, within recent memory of most people hearing it, yet they fell for the lie.