Fore­casts for growth lower

The Star Early Edition - - BUSINESS REPORT / INTERNATIONAL -

FORE­CAST for US eco­nomic growth are com­ing in slightly lower after a weak first quar­ter, ac­cord­ing to a sur­vey of busi­ness economists re­leased yes­ter­day. The Na­tional As­so­ci­a­tion for Busi­ness Economists says it is ex­pect­ing gross do­mes­tic prod­uct (GDP) growth of 2.2 per­cent this year and 2.4 per­cent in 2018. Those fore­casts are down 0.1 per­cent­age points from a sur­vey in March. The sur­vey is based on re­sponses from 52 pro­fes­sional fore­cast­ers. The GDP – the broad­est gauge of the econ­omy – ex­panded in the Jan­uary-March quar­ter at a 1.2 per­cent an­nual rate. Warm weather was one rea­son for the slow growth, since it limited spend­ing on util­i­ties. Economists fore­cast GDP growth will rise 3.1 per­cent in the April-June pe­riod and 2.5 per­cent in the sec­ond half of the year. – AP

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