Economists forecasting moderate 2013 growth
Business economists believe the country will see modest growth in 2013 with strength coming from a further rebound in housing.
In its latest survey of top forecasters, the National Association for Business Economics says it's looking for the economy to grow by 2.1 percent next year after 2.2 percent growth in 2012. That would continue the same tepid growth the country has seen since the Great Recession ended in mid-2009.
Growth at that pace is not strong enough to make a significant improvement in unemployment. The 48 NABE economists believe unemployment will average 7.7 percent for all of next year, right at the level it reached in November.
They forecast growth in the gross domestic product, the economy's total output of goods and services, at 1.6 percent in the current October-December quarter. That would be down from 2.7 percent growth in the July-September period. They believe that part of that slowdown will reflect the disruptions caused by October's Superstorm Sandy.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)