NABE survey results

NEW YORK: Many business economists expect modest economic growth for the rest of the year, with only a small percentage taking a more bullish outlook, according to a new survey.

Four-fifths of the experts surveyed by the National Association of Business Economics (NABE) expect fourth-quarter growth of at least two per cent. But only seven per cent predicted growth will top three per cent, down from the 16 per cent who held that optimistic view in July.

Expectations are declining for fourth-quarter wages and employment, said Jim Diffley, senior director at consulting firm IHS Inc and chairman of the survey.

Only 29 per cent of those surveyed expect their company to add jobs in the next three months, the lowest rate this year, according to the survey released on Monday.