Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Despite year's rough start, no recession looming, economists say
NEW YORK (7/14/14)--A weak first half of 2014 hasn't clouded the economic picture for many economists, as a National Association of Business Economics survey has found that most believe the chances of the economy falling into another recession in the next two years is "extremely low."

About 60% of those polled said the odds of another recession occurring were less than 10%, despite the economy contracting nearly 3% in the first quarter and despite gross domestic product again expected to fall far short of forecasts in the second quarter ( CNBC.com July 11).

"Notwithstanding the difficult start to the year, opinion is widespread that the economy is on solid footing," Timothy Gill, Outlook survey chair, told CNBC.com .

However, economists believe second-quarter real personal consumption expenditures will climb only 2.3%, a drop from the 2.9% expected in June. Real exports are also expected to slow, with forecasts at 2.5% on an average annual basis compared with the 5.5% predicted in March. 

Further, more than 50% of those polled said the Federal Reserve won't increase the federal funds rate until early 2015, in line with most expectations. Roughly 37% say the hike will come in the second quarter of next year, while 36% predict the rate hike in the second half of 2015.


RSS





print
News Now LiveWire
Follow @cumagazine for even more #CUNAGAC live-action reports March 8-12 #creditunion #creditunions #UniteForGood
47 minutes ago
Make sure 2 follow us @NewsNowLiveWire ,and @cuna , during March 8-12 Governmental Affairs Conference #CUNAGAC #crashthegac15 #UniteForGood
50 minutes ago
Memberships, loans continue positive trend: @CUNA's monthly survey #NewsNow http://t.co/QnAlJ4DB3O
1 hour ago
Grand opening of @McGrawHillFCU's branch puts high touch on member service #NewsNow http://t.co/RlnJNrcwM8 #Backat55
1 hour ago
20 breakout sessions available at @CUNA's April lending school #creditunions http://t.co/eTK0fVO0RK
17 hours ago