Modest Economic Growth Expected Through 2011

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A new report by the National Association of Business Economists suggests Americans shouldn't look for the economy to improve any time soon.

The latest NABE survey forecasts that growth will come in at 2.6 percent in 2011. That's down slightly from 2.7 percent growth the group expects for this year.

The NABE expects factors like high unemployment and debt to hinder a more robust recovery.

"Confidence in the expansion's durability is intact, but panelists remain concerned about high levels of federal debt, a continuing high level of unemployment, increased business regulation, and rising commodity prices," said Richard Wobbekind, president of NABE and an associate dean of the Leeds School of Business at the University of Colorado."

However, some analysts believe the economy could be stronger next year.

Barron's Magazine points out that consumers have paid off some debt and will start shopping again, and that could lead to economic growth as high as 4 percent next year.

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