Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Consumer spending, income slip in July #Market #NewsNow http://t.co/GHFviIePLS
45 minutes ago
Breaking on #NewsNow: Loan balances up 9.8% in 2nd Q, per @TheNCUA http://t.co/sqoJTfHQ8q
1 hours ago
#NewsNow S.F. paper notes Bay Area CUs' growth, 100M milestone http://t.co/rxl2TrwRIt
1 hours ago
Take 1 step to prepare See #NewsNow http://t.co/iAmMGHY9V3 HT @AgilityRecovery graphic #NPM @Readygov http://t.co/KDvJl9K9hJ
2 hours ago
#NewsNow: Seth Carpenter nominated to be @USTreasury assistant sec. for financial markets. http://t.co/SfLjscjrEE
2 hours ago