NABE Outlook Survey panelists express less optimism about the U.S. economy in 2018 than they did last quarter.
The National Association for Business Economics (NABE) releases its June outlook report, which indicates a dip in confidence among panelists regarding the U.S. economy in 2018. However, according to NABE Vice President Kevin Swift, CBE, chief economist, American Chemistry Council, the panel is “much more positive about the prospects for industrial production—anticipating 3.8% average growth in 2018, up from the 3.3% gain forecasted in March, and up significantly from the 2.3% forecasted in the December survey.”
NABE Survey Analyst, Steven Cochrane, CBE, managing director, Moody’s Analytics, says growth prospects are likely related to federal fiscal policies. Overall, the panel assesses trade policy on U.S. GDP growth through 2019 as largely negative, although not strongly so, and half of the panel expects the next recession will occur sometime between the fourth quarter of 2019 (Q4 2019) and Q2 2020.
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