NABE Survey: Economy to Grow at Slower Pace

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A new survey by the National Association for Business Economics suggests the U.S. economy will grow in 2010, but forecasters have lowered their expectations about the pace of that growth.   
According to the report set to be released Monday, economists have become more cautious in the third quarter, with 54 percent expecting growth of more than 2 percent in 2010. That estimate is down from 67 percent in a similar survey last quarter.

"The U.S. recovery from the Great Recession continues, with business conditions improving," said William Strauss, an economist and adviser at the Federal Reserve Bank of Chicago who helped conduct analysis for the report.

Meanwhile, fewer firms expect a drop in employment through attrition or layoffs. Strauss called the outlook on employment "the best reading this year."

"Outside of skilled labor, no significant amount of shortages was reported," he added.

The survey includes responses from 74 NABE members between Sept. 21 and Oct. 6.

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