Economists Less Optimistic about 2016’s Growth

A new survey of economists doesn’t paint a rosy picture for economic growth this year.

FOX’s Tonya J. Powers has the story:

A survey of 48 economists by the National Association for Business Economics shows they’re less optimistic about 2016’s growth.

79 percent of them lowered their outlooks, now saying the U.S. will grow only 2.2 percent, down from their prediction of 2.6 percent as recently as December. The group also thinks business profits will only go up two percent, instead of five as originally forecast.

And even though lower gas prices are giving us a little more cash, they say we’re being cautious, saving part of that money to pay down debt.

67 percent of the economists surveyed expect the federal reserve to raise interest rates two times this year.

Tonya J. Powers, FOX News.