There's hopeful news about the economy as Thanksgiving Week begins:
It is revising — upward — its forecast for how well the economy will do next year and now believes that job growth will resume within a few months, the National Association for Business Economics announced this morning.
NABE's 2,300 members are economists and others who use economics in their work. Its latest quarterly survey of 48 professional forecasters signals that "while the recovery has been jobless
so far, that should soon change. Within the next few months, companies should be adding instead of cutting jobs," NABE President Lynn Reaser, chief economist at Point Loma Nazarene University, said in a statement released with the group's findings.
The organization now expects the economy will grow at a 3% annual rate this quarter and 3.2% in all of 2010. It predicts growth in employment starting in the first- or second-quarter of next year. And, its members believe "housing starts and residential investment will rise sharply in 2010."
NPR Newscast's Dave Mattingly filed this report about the NABE's forecasts:
Economists: Job Growth Will Resume 'Within The Next Few Months'
Planet Money follows the economy here.