Wall Street Journal (03/12/15) Kathleen Madigan
A Wall Street Journal survey of 63 economists found they believe that a surging dollar and global slowdown will curb the nation’s economy through at least the first half of the year. They also expect a wider trade gap could keep economic growth under 3.0% this year. The economists forecast inflation-adjusted gross domestic product of 2.3% in the first quarter of 2015, little changed from the 2.2% pace of the fourth quarter of 2014. However, they anticipate growth of 3.0% in the second quarter, when much of the lost activity will be made up.
The economists forecast GDP growth of 2.9% for the year, up from a 2.4% increase in 2014 and a pace that is fast enough to push the unemployment rate down to 5.1% by December from 5.5% in February.