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
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
1 Day ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
1 Day ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
1 Day ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
1 Day ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
1 Day ago