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March 30, 2015

Survey: Stronger economic growth predicted

The National Association for Business Economics (NABE) is predicting U.S. economic growth will quicken its pace in 2015 and into 2016.

The March 2015 NABE Outlook survey of a panel of professional forecasters predicted the GDP to increase by 3.1 percent in 2015 and 2.9 percent in 2016. The GPD only increased 2.4 percent in 2014.

The predicted increases were linked to healthier consumer spending, increased housing investment and government spending growth. Recent labor market strength was also expected to continue, according to the panel, with the panelists predicting job creation to average 250,000 per month in 2015 and 216,000 per month in 2016. The unemployment rate was also predicted to drop to 5 percent by the second half of 2016.

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