Survey: US economists upbeat on economic growth

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Associated Press

Posted on October 21, 2013 at 1:01 AM

Updated Monday, Oct 21 at 1:03 AM

U.S. corporate economists are upbeat on future economic growth despite problems in Washington, rising oil prices and interest rates.

But the economists surveyed by the National Association for Business Economics weren't as optimistic about hiring. Only 27 percent said their firms added people in the third quarter. Thirty-seven percent expect to increase payrolls in the next six months, down from 39 percent in the second quarter.

Nearly 70 percent predicted gross domestic product growth of 2-to-3 percent in the coming year. Another 19 percent expect growth of 1-to-2 percent. The figures are nearly identical to those from the survey released in July.

The U.S. economy grew at an annual rate of 2.5 percent last quarter. The group surveyed 60 economists between Sept. 16-Oct. 1, largely prior to the government shutdown.

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