Business economists say that “Americans should get used to a ‘new normal’ of slow economic growth,” Cincinnati.com reports. “The median estimate from economists surveyed by the National Association for Business Economics surveyed calls for the American economy to grow 2.2 percent in 2017,” up from 1.6 percent forecasted this year, according to the article. From 1948 to 2015, economic growth in the United States averaged 3.1 percent a year, but 80 percent of economists surveyed believe the potential growth rate of the country’s economy “will remain at 2.5 percent or lower over the next five years.” However, they think the risk of recession is remote, and “90 percent expect the current economic expansion to continue until at least 2018.” Two-fifths of the economists said infrastructure spending increases “would be the best way to boost economic growth over the next four years,” while 36 percent of them said tax reform would best promote growth.
Slow economic growth is the “new normal,” experts say
