US economists less optimistic, see slower growth

US economists are less optimistic about the outlook and sharply lowered their growth forecasts for this year, amid slowing global growth and continued trade frictions, according to a survey published yesterday.

And while the odds of a recession by 2020 remain low, they are rising, the National Association for Business Economics said in their quarterly report.

The panel of 55 economists now believe “the US economy has reached an inflection point,” said NABE President Kevin Swift.

The consensus forecast for real GDP growth was cut by three tenths from the December survey, to 2.4 percent after 2.9 percent expansion in 2018.

The economy is expected to slow further in 2020, with growth of just 2 percent, the report said.

Three-quarters of respondents cut their GDP forecasts and believe the risks of to the economy are weighted to the downside.

 

US economists less optimistic, see slower growth

US economists are less optimistic about the outlook and sharply lowered their growth forecasts for this year, amid slowing global growth and continued trade frictions, according to a survey published yesterday. And while the odds of a recession by 2020 remain low, they are rising, the National Association for Business Economics said in their quarterly report. The panel of 55 economists now believe the US economy has reached an inflection point, said NABE President Kevin Swift. The consensus forecast for real GDP growth was cut by three tenths from the December survey, to 2.4 percent after 2.9 percent expansion in 2018. The economy is expected to slow further in 2020, with growth of just 2 percent, the report said. Three-quarters of respondents cut their GDP forecasts and believe the risks of to the economy are weighted to the downside.