|Economists predict increase in consumer spending||| Print ||
|Written by Associated Press|
|Monday, 20 May 2013 06:41|
WASHINGTON (AP) — Consumer spending is likely to pick up this year while government spending declines at a faster rate, according to a survey of business economists.
The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February.
But they are more bullish on consumer spending and the housing market than they were three months ago. That partly reflects a more positive view on unemployment.
The survey was released Monday by the National Association for Business Economics.
Copyright 2013 The Associated Press.