The latest NABE Outlook Survey shows improved expecations for the economy. The data is based on the consensus of macroeconomic forecasts from a panel of 54 professional forecasters and covers the outlook for 2012 and 2013. In the introduction of the forecast:
“Economists responding to the latest NABE Outlook Survey expect moderate growth in the near-term with improvement coming in the post-election year,” said NABE Outlook Survey Chair Shawn DuBravac, chief economist at the Consumer Electronics Association.
Almost all key indicators, particularly housing and unemployment will improve, but not really by much, if the numbers are taken one-by-one. Monthly jobs added are expected to be 188,000 for non-farm payrolls. This is up from 170,000 in the last forecast done a quarter ago. In 2012 housing starts are expect to move up 18% to 720,000 and then to 850,ooo in 2013. None of these numbers, if reached, would be enough to drive the US economy higher quickly.
Douglas A. McIntyre