Economy expected to continue steady recovery


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UNDATED (AP) — A quarterly survey of 46 economic forecasters generally predicts steady growth but they don't agree on the health of specific segments of the U.S. economy.

The survey released today by the National Association for Business Economics predicts that investments by businesses and government, as well as international trade activity, will grow at a faster rate than previously forecast. However, consumer spending and investments in homes will be lower than previously predicted because of Americans' lagging wage growth and trouble obtaining loans.

Following an unusually high degree of volatility in the first half of the year, the group expects the pace of economic growth to become steady, with gross domestic production forecast to grow at a seasonally adjusted annualized rate of 3 percent in the third and fourth quarters of 2014 and throughout 2015.

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