10/12/2010

The U.S. gross domestic product could expand 2.6% in 2010 and 2011, down from the 3.2% growth rate predicted for both years a few months ago, according to a recent National Association for Business Economics survey. The group raised its forecasts for business spending on equipment and software, but lowered its expectations for consumer spending. "Confidence in the expansion's durability is intact, but recent economic weakness has prompted many panelists to scale back expectations for the year ahead," incoming NABE President Richard Wobbekind said.

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