Economists Optimistic for Future Growth
05/24/2010
"Although risks involving Europe have recently escalated, the outlook in this country has improved in most respects," said Lynn Reaser, Association president and chief economist at Point Loma Nazarene University. "Growth prospects are stronger, unemployment and inflation are lower, and worries relating to consumer retrenchment and domestic financial headwinds have diminished."
The forecasters predicted 2010 and 2011 growth at 3.2 percent real GDP, an increase from the 3.1 percent it predicted in February. They also expected increased business operating rates and growing corporate profits. They predicted unemployment to decline to 9.4 percent by the end of the year, and to 8.5 percent by the end of 2011. They also reported that the housing market had bottomed out and would not reach those lows in the near future.
Although the outlook was positive, the economists still had concerns. They were very worried about high federal deficits in the future, as well as growing inflation over the next five years.
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024