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Recovery’s pace expected to slow

Associated Press / October 25, 2010

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NEW YORK — The US economy should continue to grow this year, though forecasters have lowered their expectations about the pace of recovery, according to a survey.

The National Association for Business Economics survey, set to be released today, found economists became more cautious in the third quarter, with 54 percent expecting growth of more than 2 percent in 2010, down from 67 percent the previous quarter.

“The US recovery from the Great Recession continues, with business conditions improving,’’ said William Strauss, an adviser at the Federal Reserve Bank of Chicago.

Demand and profit margins continued to grow. The survey showed better margins for the services, goods-producing, finance, insurance, and real estate businesses. Margins stagnated in the transportation, utilities, information, and communications industries.

The employment outlook seemed to be improving. The portion of firms expecting a drop in employment through attrition or layoffs fell. But most weren’t expecting to add lots of workers. Strauss called the responses on jobs “the best reading this year.’’