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Growth forecasts downgraded

Growth forecasts downgraded

Posted: Tuesday, September 20, 2011 3:32 pm

WASHINGTON (AP) — Confronted with an economy that has decidedly underperformed this year, economists are scaling back their growth forecasts for 2011 and next year.
In their latest forecast, top economists with the National Association for Business Economics predict that the economy will grow 1.7 percent this year — down from the group’s May prediction of 2.8 percent expansion. For 2012, the group is forecasting growth of 2.3 percent, compared with a May forecast of 3.2 percent growth.

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