Economists pessimistic about short-term growth

Economists pessimistic about short-term growth

Economists are gloomy about growth because of Europe's financial crisis and the prospect of major federal spending cuts.

A survey by the National Association for Business Economics released Monday also found less evidence of hiring, confirming the trend in recent monthly jobs reports from the government.

In the quarterly survey of 67 economists who work for companies or industry trade groups, 22 percent reported rising employment in July, down from about 30 percent in the last three surveys and 42 percent a year ago. On the positive side, only 9 percent said employment was falling. The rest said it was unchanged.

Read more at OregonLive.com.

{biztweet}economic growth{/biztweet}