AP Survey and Manufacturers’ Economist Predict: Blah

By October 28, 2010Economy

From “AP survey: Painfully slow economic gains into 2011“:

WASHINGTON (AP) — The job market and the economy will improve only slightly next year, according to an Associated Press survey of leading economists whose outlook for 2011 has dimmed over the past three months.

Dave Huether, chief economist for the National Association of Manufacturers, is one of the AP’s panelists and was interviewed for the AP Online Video Network in this clip. Huether:

Right now I see the economy as decelerating. I think the chances of going to double dip aren’t too high – I’d place it probably under 25 percent.

But the signs are right now that with the bulk of the stimulus in the rear-view mirror, the inventory rebound in the rearview mirror, the economy is set to grow, I think, at about a 2, 2-1/2 percent pace probably in the second half of the year.

The survey predicts unemployment falling just to 9 percent by the end of 2011, and some economists do not think employment will return to its historical norm until 2018.

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  • Elaine says:

    This is very disappointing. At a time when the government should be pushing policies that will reduce regulations, taxes and barriers to the free market to stimulate job growth, it is considering tax increases (via healthcare and personal income), more regulations (via legislation like the financial services reform bill) and still have not addressed legal reform in any sector of the economy. This country needs jobs. That’s why I found it interesting to read about a summit coming up in Atlanta on 11/30 that will address issues of over-regulation and end out-of-control liability risks that act as barriers to free enterprise; which is what makes America so exceptional and creates jobs. The summit is hosted by the Foundation of Fair Civil Justice, NACD Directorship Magazine and Salem Radio Network. Free Enterprise supporters including John Ratzenberger, Gov. Tim Pawlenty and radio host Hugh Hewitt, among others will be speaking.

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