U.S. Economy to Remain Weak in 2011, Survey Says

Before you go, we thought you'd like these...
Before you go close icon
The U.S. economy will remain weak in 2011 as companies limit hiring and consumers restrict spending, according to a survey of economists.

GDP will grow by 2.6% in 2011 after increasing by 2.7% this year, according to the median forecast of 51 economist surveyed by the National Association for Business Economics.

"Growth is expected to be moderate," Richard Wobbekind, president of the group and associate dean of the Leeds School of Business at the University of Colorado-Boulder, said in a statement. "Panelists remain concerned about high levels of federal debt, a continuing high level of unemployment, increased business regulation and rising commodity prices."

The U.S. economy will less than 150,000 jobs a month in the first half of 2011, and no more than 170,000 jobs a month in the second half, the economists predicted.

The economists forecast "weak" gains in retail sales for this year's holiday season, with sales rising by about 2.5% from last year.
Read Full Story


S&P 500 2,343.98 -1.98 -0.08%
DJIA 20,596.72 -59.86 -0.29%
NASDAQ 5,828.74 11.04 0.19%
DAX 12,064.27 24.59 0.20%
NIKKEI 225 19,262.53 177.22 0.93%
HANG SENG 24,358.27 30.57 0.13%
USD (per EUR) 1.08 0.00 0.01%
USD (per CHF) 0.99 0.00 0.02%
JPY (per USD) 111.34 0.01 0.00%
GBP (per USD) 1.25 0.00 0.01%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners