Survey: Economy Improving, Housing Lags
Business is picking up steam after nearly one year of economic recovery, says a forecast released Monday by the National Association for Business Economics.
The survey concluded that:
* Unemployment will fall to 9.4 percent by year’s end and shrink to 8.5 percent by the end of 2011.
* Inflation is expected to remain low for the next year or two, but climb within five years.
* Real domestic product is expected to rise 3.1 percent in 2010 and go up another 3.2 percent in 2011.
* Based on the decline in applications for permits to build new homes, analysts expect housing to remain a weak point.
Source: Associated Press, Dave Carpenter (05/24/2010)
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