Business economists have turned decidedly more bearish on the U.S. economy. According to the latest outlook survey from the National Association of Business Economists, U.S. GDP growth, adjusted for inflation, will slow to 2.3% this year and 1.8% in 2020, both down from 2.9% in 2018.
An earlier survey released in March had growth slowing to 2.6% this year and 2.1% next year.
"The panel turned decidedly more pessimistic about the outlook over the summer with 80% of participants viewing risks to the outlook as tilted to the downside, said Gregory Daco, chief U.S. economist at Oxford Economics and chair of the NABE survey, in a statement. In the June survey 60% of the roughly 50-odd economists saw the risks tilted to the downside.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
