Growth forecast raised
NEW YORK - US economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey.
Economists surveyed earlier this month in the Blue Chip Economic Indicators newsletter said the economy is expected to grow by 3.0 percent in 2011, which is 0.1 percentage point lower than estimates made a month ago.
Economists raised their 2010 growth forecast for the third consecutive month to 3.1 percent, up 0.1 percentage point from February.
Still, the economists predicted the recovery would be mild given the depth of the recession.
The consensus also expects inventories to continue adding to GDP over the next several quarters but sees the size of those contributions becoming increasingly smaller.
"By Q1 2011, the contribution to GDP from business inventories is expected to become trivial," the survey said.
REUTERS
(China Daily 03/11/2010 page14)
