facebook
twitter
rss
account
search
search
 

Anderson report sees slow, steady growth

March 13, 2013 at 4:01 AM   |   Comments

LOS ANGELES, March 13 (UPI) -- Economists at the University of California, Los Angeles, predicted Wednesday the U.S. gross domestic product will rise to 3 percent by 2014.

The closely watched UCLA Anderson Forecast said the GDP, which has posted an annual growth rate of 2 percent for the past four years, would be pushed by gains in the housing and automobile sectors. In addition, "renewed growth in business construction and exports" would be positive contributors, the report said.

The economists forecast job growth will hold steady in 2013, continuing the 181,000 jobs per month pace experienced in 2012. By 2014, that number would hit 200,000 jobs per month and rise by another 20,000 jobs per month in 2015, when the economy would gain 220,000 jobs per month, if the forecast holds true.

"As a result, by the end of 2015, the unemployment rate will fall to about 6.5 percent," the UCLA Anderson School of Management report said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
2
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
3
Textron's G-CLAW on target in live-fire demonstration Textron's G-CLAW on target in live-fire demonstration
4
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
5
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
Trending News
Video
x
Feedback