More Optimism About Economic Growth in 2013, Survey Finds
(NEW YORK) -- More economists are raising their forecast for growth this year.
A new survey by the National Association for Business Economics finds that 50 percent of corporate economists now think the economy will expand by 2.1 percent or better in 2013. That's up from 36 percent last October.
"We're seeing slow but certainly steady progress on a lot of fronts," says Tom Gill, the director of economics at the National Electrical Manufacturers Association.
Gill, who oversees the survey, says one of the bright spots is the jobs market.
"The labor market is really gaining momentum. There was very positive news looking ahead there. A larger share of firms now expect to expand their payrolls in the next six months," he says.
Gill expects sales at many companies to rise this year.
"We've seen wage and salary gains pick up in the fourth quarter, which is a positive for consumer spending going forward. Which has ramifications for overall growth in sales," he says.
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