Posted by Shawn Maclauchlan
RICHMOND, VA (WWBT) - Top forecasters say the economy will grow this year and next at a slower pace than previously thought.
That's the finding of a survey released this week by the national association of business economics.
The panel reduced its forecast for annual economic growth to 2.6 percent in 2010 and 2011. That's down from its forecast of 3.2 percent in May.
Economists say they lowered projections due to reduced spending by governments and consumers, as well as weak data on employment and housing figures.