The National Association for Business Economics survey finds a forecast of 3.1 percent growth in the real gross domestic product or GDP, this report is the March report but in the earlier December report the forecast was 2.4 percent gain in the real Gross domestic product.
There is good news for jobs, says the NABE President John Silvia, who’s also the chief economist of Wells Fargo.
The forecast for the jobs is average 250,000 per month in 2015 and 216,000 per month next year.
The unemployment rate is trending downward over the next several quarters; it will reach 5 percent by the second half of 2016.
88 percent of the panelist believes that the Fed will start tightening monetary policy in the second or third quarter of 2015.