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CBS News/APNABE Survey Forecasts GDP to Grow 3.2%, Unemployment to Fall to 9.4% by Year's End; Deficits Still a Concern(AP) Economists forecast the pace of U.S. growth to pick up in the year ahead as consumers and businesses alike accelerate spending, according to a new survey.
The assessment by leading forecasters is set to be released Monday by The National Association for Business Economics. It finds them more bullish than when the survey was last surveyed in February, with a majority expecting the economy's performance to exceed the long-term norm in 2010 and 2011.
The outlook amounts to an encouraging report card on the economy at nearly the one-year mark of the recovery, which the experts date to June 2009 when the recession hit bottom.
"Although risks involving Europe have recently escalated, the outlook in this country has improved in most respects," said Lynn Reaser, the group's president and chief economist at Point Loma Nazarene University. "Growth prospects are stronger, unemployment and inflation are lower, and worries relating to consumer retrenchment and domestic financial headwinds have diminished."
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