U.S. economy to grow in 2012

Economists expect the U.S. economy to make modest gains in 2012.

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Economists expect the U.S. economy to make modest gains in 2012.

About two-thirds of the economists who participated in the latest National Association for Business Economics survey expect the nation’s gross domestic product, or GDP, to grow at a rate above 2 percent this year, according to the outlook released Monday.

“That is not the sort of GDP growth that’s really going to dramatically improve our labor market, but it’s certainly not going to make it worse,” Nayantara Hensel, professor of industry and business at National Defense University and chair of the NABE survey, said in an interview.

GDP growth needs to be above 3 percent to significantly lower unemployment, which is at its lowest rate in nearly three years, but remains at a troubling 8.5 percent.

Read more at OregonLive.com.

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