(NEW YORK) — The U.S. economy should continue to grow this year and into the next, according to the latest outlook from the National Association for Business Economics.
“The NABE panelists are showing greater optimism in that they expect real GDP (gross domestic product) to grow by 2.4 percent from the fourth quarter of ’12 to the fourth quarter of ’13 and to grow by 3 percent by 2014,” says Dr. Nayantara Hensel, Chair of the NABE Outlook Survey Committee.
But the 49 economists surveyed are worried fiscal uncertainty could slow down an otherwise growing economy.
“About 95 percent of the panelists were particularly concerned that real GDP this year is likely to be negatively affected by the uncertainty surrounding the U.S. fiscal imbalances and the issues linked to the continuing resolution, sequestration and the debt ceiling,” she says.
Meanwhile, the economic forecasters aren’t so optimistic about what lies ahead for Europe’s financial future.
“About a third of the panelists believe that Spain will require a larger bailout package in 2013 than was previously anticipated. About a quarter of the panelists believe Italy will require a bailout package in 2013. About a fifth of the panelists believe Ireland will require a second bailout package in 2013,” says Hensel.
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