WASHINGTON (AP) – A group of top business economists believes the major tax cuts President Donald Trump pushed through Congress will give a significant boost to economic growth this year and next year. But they worry that by 2020, the country could be entering a new recession.
The National Association for Business Economics says in its latest quarterly outlook that its panel of 45 economists expects the economy, as measured by the gross domestic product, to expand 2.8 percent this year. That is down slightly from the panel’s March forecast, which put GDP growth this year at 2.9 percent.
The NABE economists are “slightly less optimistic about the U.S. economy in 2018 than they were three months ago,” says NABE vice president Kevin Swift, chief economist at the American Chemistry Council.
