News / Economy

    Analysts: US Economy Steadily Advancing Through 2015

    FILE - A trader looks up at a chart on his computer screen while working on the floor of the New York Stock Exchange.
    FILE - A trader looks up at a chart on his computer screen while working on the floor of the New York Stock Exchange.
    VOA News
    A group of U.S. business economists says it sees the American economy advancing steadily through next year, with the nation's production expanding and the jobless rate falling.

    The National Association for Business Economics says an unusually cold and snowy winter curtailed economic growth in the past three months, but it expects economic expansion to accelerate through 2015.

    The group's panel of 48 economists said the January-to-March advance is likely to reach a weak 1.9 percent. But it said growth could end the year at a pace of more than three percent.

    The panel predicted 2.8 percent growth for all of 2014 for the world's largest economy, up from 1.9 percent in 2013. It projects a 3.1 percent advance in 2015.

    The group's president, Jack Kleinhenz, said the country's labor market, consumer spending and housing industry are all expected to improve over the next two years.

    The business group said the country's jobless rate will fall, to 6.4 percent this year and to 6.1 percent in 2015.

    At the same time, a majority of the economists surveyed predicted that the U.S. central bank, the Federal Reserve, would end its direct support of the American economy by the end of 2014. That projection is in line with Fed statements that it expects to curtail its purchase of billions of dollars of securities to boost the economy if its fortunes continue to improve.

    As the U.S. economy advances, the economists said they expect the Federal Reserve to increase its benchmark interest rate from the current near zero level to three-quarters of one percent by the end of 2015. Such an increase would ripple through the U.S. economy, with consumers and businesses forced to pay higher interest rates on a variety of types of loans.

    You May Like

    US, Allies Discuss Next Steps in Islamic State Fight

    Meeting comes a day after US Navy SEAL was killed while fighting Islamic State forces in northern Iraq

    In China, Traditional Banks Fight Challenge From Internet Firms

    Internet companies lent more than $150 billion to customers in 2015, which is an extremely small amount compared to the much larger lending by commercial banks last year

    Trump Faces Tough Presidential Odds Against Clinton

    Numerous national election surveys show former secretary of state defeating presumptive Republican nominee with tough talk to halt illegal immigration and temporarily block Muslims from entering country

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Press Freedom in Myanmar Fragile, Limitedi
    X
    Katie Arnold
    May 04, 2016 12:31 PM
    As Myanmar begins a new era with a democratically elected government, many issues of the past confront the new leadership. Among them is press freedom in a country where journalists have been routinely harassed or jailed.
    Video

    Video Press Freedom in Myanmar Fragile, Limited

    As Myanmar begins a new era with a democratically elected government, many issues of the past confront the new leadership. Among them is press freedom in a country where journalists have been routinely harassed or jailed.
    Video

    Video Taliban Threats Force Messi Fan to Leave Afghanistan

    A young Afghan boy, who recently received autographed shirts and a football from his soccer hero Lionel Messi, has fled his country due to safety concerns. He and his family are now taking refuge in neighboring Pakistan. VOA's Ayaz Gul reports from Islamabad.
    Video

    Video Major Rubbish Burning Experiment Captures Destructive Greenhouse Gases

    The world’s first test to capture environmentally harmful carbon dioxide gases from the fumes of burning rubbish took place recently in Oslo, Norway. The successful experiment at the city's main incinerator plant, showcased a method for capturing most of the carbon dioxide. VOA’s Deborah Block has more.
    Video

    Video EU Visa Block Threatens To Derail EU-Turkey Migrant Deal

    Turkish citizens could soon benefit from visa-free travel to Europe as part of the recent deal between the EU and Ankara to stem the flow of refugees. In return, Turkey has pledged to keep the migrants on Turkish soil and crack down on those who are smuggling them. Brussels is set to publish its latest progress report Wednesday — but as Henry Ridgwell reports from London, many EU lawmakers are threatening to veto the deal over human rights concerns.
    Video

    Video Tensions Rising Ahead of South China Sea Ruling

    As the Philippines awaits an international arbitration ruling on a challenge to China's claims to nearly all of the South China Sea, it is already becoming clear that regardless of which way the decision goes, the dispute is intensifying. VOA’s Bill Ide has more from Beijing.
    Video

    Video Painting Captures President Lincoln Assassination Aftermath

    A newly restored painting captures the moments following President Abraham Lincoln’s assassination in 1865. It was recently unveiled at Ford’s Theatre in Washington, where America’s 16th president was shot. It is the only known painting by an eyewitness that captures the horror of that fateful night. VOA’s Julie Taboh tells us more about the painting and what it took to restore it to its original condition.
    Video

    Video Elephant Summit Results in $5M in Pledges, Presidential Support

    Attended and supported by three African presidents, a three-day anti-poaching summit has concluded in Kenya, resulting in $5 million in pledges and a united message to the world that elephants are worth more alive than dead. The summit culminated at the Nairobi National Park with the largest ivory burn in history. VOA’s Jill Craig attended the summit and has this report about the outcomes.
    Video

    Video Displaced By War, Syrian Artist Finds Inspiration Abroad

    Saudi-born Syrian painter Mohammad Zaza is among the millions who fled their home for an uncertain future after Syria's civil war broke out. Since fleeing Syria, Zaza has lived in Lebanon, Egypt, Jordan and now Turkey where his latest exhibition, “Earth is Blue like an Orange,” opened in Istanbul. He spoke with VOA about how being displaced by the Syrian civil war has affected the country's artists.
    Video

    Video Ethiopia’s Drought Takes Toll on Children

    Ethiopia is dealing with its worst drought in decades, thanks to El Nino weather patterns. An estimated 10 million people urgently need food aid. Six million of them are children, whose development may be compromised without sufficient help, Marthe van der Wolf reports for VOA from the Metahara district.
    Video

    Video Little Havana - a Slice of Cuban Culture in Florida

    Hispanic culture permeates everything in Miami’s Little Havana area: elderly men playing dominoes as they discuss politics, cigar rollers deep at work, or Cuban exiles talking with presidential candidates at a Cuban coffee window. With the recent rapprochement between Cuba and United States, one can only expect stronger ties between South Florida and Cuba.
    Video

    Video California Republicans Weigh Presidential Choices Amid Protests

    Republican presidential candidates have been wooing local party leaders in California, a state that could be decisive in selecting the party's nominee for U.S. president. VOA's Mike O’Sullivan reports delegates to the California party convention have been evaluating choices, while front-runner Donald Trump drew hundreds of raucous protesters Friday.
    Video

    Video ‘The Lights of Africa’ - Through the Eyes of 54 Artists

    An exhibition bringing together the work of 54 African artists, one from each country, is touring the continent after debuting at COP21 in Paris. Called "Lumières d'Afrique," the show centers on access to electricity and, more figuratively, ideas that enlighten. Emilie Iob reports from Abidjan, the exhibition's first stop.

    Special Report

    Adrift The Invisible African Diaspora

    World Currencies

    EUR
    USD
    0.8643
    JPY
    USD
    105.91
    GBP
    USD
    0.6837
    CAD
    USD
    1.2584
    INR
    USD
    66.395

    Rates may not be current.