National Association of Business Economists says growth will pick up

U.S. economic growth should accelerate in the second quarter and remain healthy for the rest of this year, according to a forecast by a group of U.S. business economists.
By CHRISTOPHER S. RUGABER, AP Economics Writer, AP Economics Writer Published: June 10, 2014
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In brief

Economy may show growth

U.S. economic growth should accelerate in the second quarter and remain healthy for the rest of this year, according to a forecast by a group of U.S. business economists. Still, growth for the full year will likely come in lower than they previously estimated.

The National Association of Business Economists released the survey Monday. The survey of 47 economists from companies, trade associations and academia was conducted from May 8 to May 21.

The survey also found that economists say the Federal Reserve will end its bond purchase program by the end of this year. That’s partly because economists are optimistic about growth for the rest of this year: They expect it will jump to 3.5 percent in the second quarter and remain above 3 percent for the rest of the year.

But the pickup comes after harsh winter weather caused the nation’s gross domestic product to contract 1 percent in the first quarter, much worse than expected.

Associated Press