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Economists Dim Their Growth Views

Wall Street Journal (07/17/14) Kathleen Madigan

The U.S. economy is likely to experience disappointing growth in 2014 in the absence of a big spring bounce to follow a tough winter, according to a Wall Street Journal survey of 48 economists. Inflation-adjusted gross domestic product is expected to expand by 1.6% this year, a drastic drop from the 2.2% forecast last month.

“We were flat-lining in the first half,” says Diane Swonk of Mesirow Financial. “We are in another difficult year, instead of the ‘lift-off’ year we expected.”