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Steady Real Estate Recovery Predicted
Economists see steady growth but remain mixed on their outlook for the health of different segments of the U.S. economy.
Investments by businesses and government, as well as international trade activity, will grow at a faster rate than previously forecast, according to a survey released Monday by the National Association for Business Economics. However, consumer spending and investments in homes will be lower than previously predicted because of Americans’ lagging wage growth and trouble obtaining loans.
The predictions come in a quarterly survey of 46 forecasters that was conducted between Aug. 25 and Sept. 9.
Following an unusually high degree of volatility in the first half of the year, the group expects the pace of economic growth to steady, with gross domestic production forecast to grow at a seasonally adjusted annualized rate of 3 percent in the third and fourth quarters of 2014 and throughout 2015.