A snapshot of the AP Economy Survey results

The Associated Press Economy Survey drew upon forecasts from 44 economists. What follows are their average forecasts, along with some historical context.

HOUSING

— Sale prices of previously occupied homes: In 2010, a decline of 0.1 percent. In 2011, a 2.3 percent increase. Prices tumbled 10.7 percent last year.

— Number of previously occupied homes sold: In 2010, 5.4 million. In 2011, 5.9 million. There were 5.2 million sales last year.

JOBS

— Unemployment rate: In April, 9.6 percent. In December, 9.3 percent. In December 2011, 8.4 percent. Rate has been stuck at 9.7 percent since January.

— Net job creation: In April, 198,171. In May, 247,780. In June, 125,244. Employers added 162,000 jobs in March.

ECONOMIC GROWTH

— Gross domestic product: In the first three months of the year, 3 percent growth. In the second quarter, 3.7 percent. For the year, 3.1 percent. The economy shrank 2.4 percent in 2009, the most since 1946.

INFLATION

— For 2010, a 1.7 percent rise in consumer prices. In 2011, a 2.1 percent increase. Prices rose 2.7 percent in 2009.

INTEREST RATES

— More than three-fourths of the economists said the earliest the Fed would begin lifting key interest rates is the fourth quarter of this year.

— A majority — 29 — said the Fed’s timing would be “about right” to enable growth without stoking inflation. But 15 predicted the Fed will be “too slow” in boosting rates, which could raise inflation risks.

SAVINGS

— A savings rate of 4 percent this year and 3.9 percent next year. Last year, Americans saved 4.3 percent of their disposable income. That was the most since 1998.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

let others know what you think:
  • Twitter
  • Facebook
  • Digg
  • del.icio.us
  • StumbleUpon
  • LinkedIn
  • Google Bookmarks
  • email
  • Print
This entry was posted in Economic News and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>