US business economists see slower growth and profits ahead

July 29, 2019 - 11:11 am

WASHINGTON (AP) — U.S. business economists expect economic growth to slow this year, and a rising proportion of them think corporate sales and profits will decline.

The National Association for Business Economics says its quarterly survey, released Monday, about business conditions finds that the Trump administration's tariffs on goods from China, Europe and other countries have disrupted the businesses of about one-fourth of its members.

Still, the survey finds that the NABE's members generally expect the economy to keep growing, albeit only gradually, and to avoid a recession in the next 12 months. Just under half say they think the economy will expand 2% or more over the next year — sharply lower than the two-thirds who predicted so in January.

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