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Economists say “Outlook Good” for 2013

Economists say “Outlook Good” for 2013

An article in USA Today says that economists are optimistic that the economy will grow this year. While unemployment is not predicted to fall a great deal, the overall outlook for future growth is looking up. The economists surveyed expect an average growth of 155,000 jobs per month.

The article quoted Richard Moody, chief economist at Regions Bank, as saying, “I think we’re really on the verge of this becoming a self-sustaining recovery”. He added, the revisions reflect a job market that’s expanding more rapidly than previously believed.

Things improved because Congress and the White House agreed to keep income taxes stable for households earning less than $450,000 a year.  More than a third of the economists surveyed say they are more optimistic this year than last. They expect economic growth to be 2.7% and corporations are holding a lot of cash to help them expand.

Also, people have reduced their debt over the downturn and this is allowing more spending on autos and homes. So economists are not as bullish and warning that consumers will not and should not over optimistic.

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