News / Economy

Economic Forecasters See US Advance

A shopper walks past a 100-foot U.S. flag that will be on display to honor veterans until July 4th, in a department store in Chicago, Illinois, May 23, 2014.
A shopper walks past a 100-foot U.S. flag that will be on display to honor veterans until July 4th, in a department store in Chicago, Illinois, May 23, 2014.
Ken Bredemeier
Economic forecasters say they expect the American economy to advance at a faster pace in the coming months.

The U.S. economy shrank one percent in the first three months of the year. 

But the National Association for Business Economics said Monday its group of 47 forecasters expects growth to advance at an annual pace of more than 3 percent in each of the last three quarters of 2014.

The professional group's president, Jack Kleinhenz, National Retail Federation chief economist, says the consensus is the U.S. economy will rebound at an annual advance of 3.5 percent in the current quarter, with smaller jumps in the second half of the year.

The group is predicting 2.5 percent growth for the year as a whole, down from an earlier 2.8 percent projection.

The economists say they expect the country's labor market to add an average of 209,000 jobs a month this year.

That is near the number added in May, with the national unemployment rate dipping slightly from the current 6.3 percent level.

They predicted the country's central bank, the Federal Reserve, will continue to trim its purchase of securities to support the U.S. economy and end them altogether in late 2014.

You May Like

Obama: I Will Do 'Everything I Can' to Close Guantanamo

US president says prison continues 'to inspire jihadists and extremists around the world' More

Sierra Leone Educates on Safe Ebola Burials

Also, country is improving at rapid response to isolated outbreaks, but health workers need to be even faster, officials say More

Christmas Gains Popularity in Vietnam

Increasingly wealthy Vietnamese embrace holiday due to its non-religious glamor, commercial appeal More

This forum has been closed.
Comment Sorting
Comments
     
by: Donald Fraser Miles from: Elliot Lake, Canada
June 10, 2014 7:54 AM
The tapering of quantitative easing has lead to conditions for a long term robust American economy. I expect growth to approach 5% within two years and to stay at that figure or approach 6% afterwards. Increasing the money supply through quantitative easing was essential when used. However, like all remedies the use of such a remedy is short to mid-term in length. It is always best not to interfere for long periods in the application of interferences to a free market, although some mild adjustments need always be addressed and made.

To irrigate farmland parched with drought makes sense until such time as the land is steeped with water. Once the land is watered, as the same with quantitative easing and the economy being the water and farmland, then it is the sun together with the replenished land which with good soil gives abundance in crop production. The American economy may need to be watered again in the future but only to adjust for money supply conditions failing to meet economic growth needs.

The parallels of soil, water and sun are the conditions of industry in costs of production, existence of capital and industrial competitiveness. I see the American economy, as with others in Europe, having broken through the "water" or capital diversion and waste problems caused the capital market or irrigation breakdown of the mid to late 2000s.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Ugandan Doctors Aid Victims of Sudan's Civil Wari
X
Adam Bailes
December 22, 2014 3:45 PM
In Sudan's state of South Kordofan, the number of amputees as result of civil war is in the thousands, but few have access to sufficient medical help. Adam Bailes recently visited the area and says a small team of Ugandan doctors has been providing remote help, producing new prosthetic limbs for those in need.
Video

Video Ugandan Doctors Aid Victims of Sudan's Civil War

In Sudan's state of South Kordofan, the number of amputees as result of civil war is in the thousands, but few have access to sufficient medical help. Adam Bailes recently visited the area and says a small team of Ugandan doctors has been providing remote help, producing new prosthetic limbs for those in need.
Video

Video Jane Monheit Christmas Special

Chanteuse Jane Monheit sings the holiday classic “Have Yourself a Merry Little Christmas,” and explains why it’s her favorite song of the season.
Video

Video Calm Amid Fear in Daily Life in S. Sudan’s Town of Bentiu

Six months ago, Bentiu was a ghost town. The capital of northern Unity State, near South Sudan’s important oil fields, had changed hands several times in fighting between government forces and rebels. Calm returned in November and since then, residents of Bentiu have been trying to regain some sense of normalcy. Bentiu’s market has reopened there are plans to start school again. But fears of new attacks hang heavy, as Benno Muchler reports from Bentiu.
Video

Video US Business Groups Press for Greater Access to Cuba

President Barack Obama's decision to do all he can to ease restrictions on U.S. trade, travel and financial activities with Cuba has drawn criticism from some conservatives and Republicans. People who bring tourists to the island and farmers who want to sell more food to Cuba, however, think they can do a lot more business with Cuba. VOA's Jim Randle reports.
Video

Video Three Cities Bid for Future Obama Presidential Library

President Barack Obama still has two years left in his term in office, but the effort to establish his post-presidential library is already underway. The bid for the Obama Presidential Library is down to four locations in three states -- New York, Hawaii, and Illinois. As VOA’s Kane Farabaugh reports, each of them played an important part in the president’s life before he reached the White House.
Video

Video Fears of More Political Gridlock in 2015

2014 proved to be a difficult year politically for President Barack Obama and a very good year for the U.S. Republican Party. Republican gains in the November midterm elections gave them control of the Senate and House of Representatives for the next two years -- setting the stage for more confrontation and gridlock in the final two years of the Obama presidency. VOA National Correspondent Jim Malone has a preview from Washington.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.

All About America

AppleAndroid

World Currencies

EUR
USD
0.8143
JPY
USD
119.23
GBP
USD
0.6390
CAD
USD
1.1596
INR
USD
63.304

Rates may not be current.