Budget cuts to restrain US growth in 2013: survey
Reuters: Washington, Feb 25 2013, 11:01 IST
expected to keep the economy sluggish, the jobless rate, which stood at 7.9 percent in January, should slowly drop.
The economists forecast an average unemployment rate this year of 7.7 percent, with a further drop to 7.2 percent in 2014. That would be the lowest level since President Barack Obama took office in 2009.
While growth in consumer spending is seen unchanged from last year's 1.9 percent rate, the economists expect it to accelerate to 2.4 percent in 2014.
The outlook for the housing market was also positive, with expected improvements in housing starts and home prices. Residential investment is expected to grow 14.8 percent.
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