25 March 2011 20:23 [Source: ICIS news]
In its monthly economic forecasters survey, the ACC reported expectations for US GDP growth of 3.1% in 2011 and 3.2% in 2012, each a 0.1 percentage point drop from the prior month’s survey.
The ACC said that most of its economic forecasters were from industrial companies or consultancies, and had expertise in the dynamics of the
For 2011, consumer spending and business investment are projected to rise 3.1% and 8.7% - down 0.1 and 0.3 percentage point, respectively, from the February survey.
The unemployment picture also improved from February expectations, with economists forecasting an average rate of 9.0% for 2011, an increase of 0.2 percentage point from last month.
For 2012, expectations for gains in consumer spending held flat at 2.9%.
Meanwhile, projections for growth in industrial projection slipped to 3.9% from 4.0%.
The ACC released the survey in conjunction with its weekly economic report.
In the report, the ACC noted rising
The largest gains were registered in the US Gulf region, the ACC said, which is dominated by the production of building-block materials such as petrochemicals, inorganics and synthetic materials.
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