Most business economists see US growth above 2%: Poll

NEW YORK: Most business economists predict that US economic growth will surpass two percent over the next year, despite softening in some business conditions, according to a survey released yesterday.

The improving forecasts for US growth come amid a weakening profit outlook and continued uncertainty over thorny debates in Washington on trade and tax policy, said the National Association for Business Economics, summarizing a quarterly survey of 85 economists.

“Policy developments, including those affecting the North America Free Trade Agreement, remain on the panel’s list of concerns, but continue to have limited impact on business decision-making with regard to hiring or investment,” said Emily Kolinski Morris, chief economist at Ford.

“The recent hurricanes appear to have had relatively limited impact on respondents’ firms, with more than 80 percent of panelists reporting no anticipated impact on their business in the third or fourth quarters due to Hurricanes Harvey and Irma.” The outlook for real gross domestic product growth “improved materially” in theOctober survey compared with July, the report said. Eighty percent of the group predicted that growth would run between 2.1 percent and 3.0 percent over the next 12 months, while 15 percent saw it running between 1.1 percent and 2.0 percent, the report said.—AFP