Business economists: Solid growth ahead but risks from trade
WASHINGTON (AP) — A group of business economists foresee U.S. economic growth remaining solid next year, with unemployment falling further and only a slight chance of a recession. But they express concern about potential risks, notably from trade conflicts.
In its latest forecast being released Monday, the National Association for Business Economics predicts that the economy will grow 2.7% next year, only slightly below the 2.9% that they expect for all of 2018 as measured by the gross domestic product.
The 2.9% predicted growth for this year would be up significantly from meager gains of 1.6% in 2016 and 2.2% in 2017. But it would still fall shy of the pace that President Donald Trump has pledged to achieve with his program of tax cuts and deregulation.