Experts predict a few more strong laps around this race track we call our economy. Fifty forecasting experts with the National Association of Business Economics (NABE) believe the U.S. economy will grow at a rapid pace over the next two years. They suspect Gross Domestic Product (GDP) will increase on average 3.1% in 2015 and 2.9% in 2016.
Few can complain about the potential win-win situation brewing that will reward businesses with higher sales and better employment opportunities for job seekers. Experts believe the economy will improve to a point where unemployment dips under 5% by the end of 2016.
The advantages of polling experts can help gauge the overall likelihood of success for the nation. These economic gurus have become successful in their fields and have opinions on economic growth and development. Funneling their opinions into useful metrics helps see that the average opinion is positive.
Each expert sifts the questionnaire information through their personal experiences, judgments and opinions to come to a conclusion about each question. These conclusions are averaged to get the statistics seen above. The more people involved in the forecast the greater the validity of the results.
Positive news and accurate information often draws investment from interested stakeholders that desire to improve their profit margins. For example, if you own a business that is likely to benefit from a growing economy and are holding onto cash the positive news may prompt additional investment. This can in turn generate more employment; 250,000 per month worth.
Growing economies, lower unemployment, higher investment, and sustainable spending are positive news for any government that seeks to place in the finals of racing nations. That doesn’t mean any of this will come to pass but that industry experts believe it is possible and perhaps even likely. If you are a business investor or a person seeking to gain from employment opportunities these numbers should be refreshing.http://nabe.com/NABE_Outlook_March_2015