The U.S. economic growth is going to continue for the coming two years or longer, as most experts said in a survey by Reuters. They also believe upward movement will not pace up like the current White House administration has forecasted.
The crisis of 2007-2009 hit hard and the revival has taken uncommonly long time. Current growth period has been lasting for 8 years now, and in case the survey’s data comes to being it would be the record long expansion for the past 150 years.
By now growth hasn’t been going as fast as forecasted. A survey of August 7-10 showed leading economists are inclined to bring down expected figures a bit.
However, there are two or more years of growth to come, as the majority of the 57 polled experts said in an answer to an extra question on the economic cycle.
More than 20 economists in the same poll predicted 2-3 years of growth and 13 believed it would last over 3 years.
Wells Fargo’s Sam Bullard, who was one of those predicting 2-3 years of expansion, said that growth can’t last forever, but stable and regular growth could continue for quite some time. Just 23 of those polled gave the expansion 1-2 years to last. No North American or European economist anticipated it to hold for a year or less.