If the Japanese disaster and out-of-control oil prices slowed economic recovery in the first half of 2011, a second half of the year free of such setbacks could mean better days for the economy. This is according to analysts who say economic growth is set to ramp up.
The AP surveyed 38 top economists and found that the average projected growth for the rest of the year is 3.2 percent, which would be an improvement from the 1.9 percent growth in the first three months of the year. The economists predicted an average growth of 2.3 percent for the second quarter, which ends this week.
An increase in growth doesn’t mean the nation’s struggles with unemployment will cease. The story says the economy has to grow an average of 5 percent for a year to lower unemployment to 8.1 percent from its current 9.1 percent.
How do you think the economy will fare the rest of the year?
Why Economists See a Stronger Second Half for 2011 [AP via ABC News]