Poll: US economy to keep growing slowly

ByREUTERS
October 11, 2012 17:04




NEW YORK - Prospects for US growth have dimmed only slightly for the first part of next year, a Reuters poll showed on Thursday, suggesting the economy will maintain its slow, steady plod despite global and domestic headwinds.

These include a recession in Europe, a slowdown in China and more restrictive fiscal policy at home.

Economists lowered their median growth forecasts to an annualized 1.6 percent for the first quarter of 2013 compared with 1.7% last month, the poll of more than 70 respondent found, and to 2.1% for the second quarter from 2.3 percent.

The slower growth outlook reflects some drag from the so-called fiscal cliff - deep automatic reductions in government spending, unless Congress agrees to a debt-and-deficit reduction package.

Most economists in the poll said, however, that Congress would act to avoid the crisis.

Related Content
Breaking news
September 19, 2017
Major earthquake of 7.4 magnitude hits southern Mexico

By REUTERS