Arab Today, arab today economists us growth to pick up speed in 2014
Last Updated : GMT 01:21:23
Arab Today, arab today
Arab Today, arab today

Economists: US growth to pick up speed in 2014

Arab Today, arab today

Arab Today, arab today Economists: US growth to pick up speed in 2014

Washington - UPI

U.S. economic growth will speed up into next year, with the jobless rate averaging the current 7 percent, a business economists survey released Monday showed. The economy will likely grow at an annualized, inflation-adjusted pace of 2.8 percent in 2014 and reach 3 percent in the fourth quarter, the National Association for Business Economics' December Outlook Survey indicated. The 2.8 percent annualized rate represents a median figure from economists whose forecasts range from 1.9 percent to 4 percent, NABE said. The NABE survey was conducted Nov. 8-19, more than two weeks before the U.S. Commerce Department estimated Thursday the economy grew at an annual 3.6 percent rate in the third quarter instead of the 2.8 percent pace it originally reported. The department is to release a final revision Dec. 20. The revised third-quarter pace was the most robust since the first quarter of 2012 and marked an acceleration from the April-June period's 2.5 percent rate. But many economists generally said the better-than-expected data, stoked by rising inventories, would likely be counterbalanced by a decrease in economic growth in the current quarter as businesses work off excess stock on their shelves and in warehouses. "The strong third quarter doesn't make a trend," Federal Reserve Bank of Atlanta President Dennis Lockhart said Thursday. "I am not prepared to interpret the revised third-quarter number as an indication that the economy is on a much stronger track -- I think we're still on that relatively moderate growth track," he said. Barclays Capital Securities followed the surprise Commerce Department report with a statement downgrading its fourth-quarter real economic growth forecast to a 1.5 percent annual rate from 2 percent. On other economic indicators, the NABE survey respondents said the unemployment rate -- which fell to a five-year low of 7 percent in November, the lowest reading since President Obama took office -- would likely average the same 7 percent next year. The rate was 7.3 percent in October, the same as it was in December 2008, the month before Obama was first inaugurated. Non-farm payrolls are expected to increase 197,000 a month, up from this year's average monthly gain of 177,500, the survey indicated. Non-farm payrolls refers to paid U.S. workers of all businesses except government, non-profit, private households and farms. In the latest official figures, employers hired 203,000 non-farm workers in November, the Labor Department said Friday. By contrast, employers created only 89,000 new jobs as recently as July. Affordable Care Act provisions are expected to trim 10,000 jobs from monthly payroll growth in 2014, the economists forecast. Hourly pay will likely increase 2.4 percent next year as the labor market tightens, the panelists said. The prospect of higher employment and faster economic growth increases the likelihood the Federal Reserve will soon start easing back on its bond-buying economic-stimulus efforts, many economists say. Fed Chairman Ben Bernanke predicted in June the Fed would taper its purchases by the end of this year, and officials say the Fed still could announce such a cut next week, when its policymaking committee holds its last meeting of the year. But most NABE survey panelists said they believed the Fed would hold tight and not rein in its stimulus bond-buying, known as quantitative easing, until the first half of 2014. Sixty-two percent of respondents said they expected the tapering would begin in the first three months and 30 percent said they believed it would start in the second quarter. Eighty-eight percent of panelists said they believed new across-the-board federal budget cuts, known as budget sequestration, would take effect next year, but 76 percent said they expected the cuts would slow real economic growth by less than 0.5 percentage points. While the fiscal restraint may temper growth, it will help shrink the budget deficit, the panelists said. They forecast the federal deficit would be $600 billion in current 2014 fiscal year, ending Sept. 30, down from $680 billion in 2013 and $1.09 trillion in 2012.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today economists us growth to pick up speed in 2014 Arab Today, arab today economists us growth to pick up speed in 2014

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday