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NABE Expects Modest but Accelerating Growth in 2013

National Association for Business Economics (12/17/12)

Economists with the National Association for Business Economics expect modest growth in the economy in 2013 and forecast some improvement in the labor market. They do not expect significant improvement in annual average growth in real gross domestic product for 2013 relative to 2012, but suggest that stable, moderate growth will continue. They forecast that annual average growth for real GDP will be 2.2% this year and 2.1% next year. The economists further forecast that the annual average civilian unemployment rate will be 7.7% next year, down from their forecast of 8.1% this year.