Growth and hiring outlook improves

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- Economists are optimistic that the recovery will continue in 2010, as the pace of job losses slows and hiring picks up, according to a survey released Monday.

In the quarterly survey by the National Association for Business Economics, all respondents expect gains in gross domestic product (GDP) this year, and 61% expect growth to exceed 2%. In the last survey in October, fewer than half of respondents expected 2%-plus growth.

"NABE's January 2010 Industry Survey provides new evidence that the U.S. recovery from the Great Recession continues, albeit at a slow pace," said William Strauss, a senior economist at the Federal Reserve Bank of Chicago, who helped conduct the analysis for the report.

Nearly a third of respondents expect hiring to increase in the first half of the year, up from 17% this time a year ago.

The outlooks were particularly strong for the financial and services sectors, with about 40% of economists expecting those industries to add jobs. Less than 15% of economists from the goods-producing and transportation sectors expect those industries to hire workers.

Signs point to a mildly easing credit crunch, with 35% of respondents reporting that credit conditions are "adversely impacting" their businesses -- a high number, but down substantially from the last two reports.

The survey results suggest the $787 billion stimulus bill passed last February is having a limited effect, with 69% of respondents reporting little impact on employment at their companies. There are 75 panelists who respond to the NABE survey -- sixty-four responded to the question regarding stimulus.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,805.41 127.51 0.76%
Nasdaq 4,483.72 30.93 0.69%
S&P 500 1,964.58 13.76 0.71%
Treasuries 2.27 -0.00 -0.09%
Data as of 7:06pm ET
Company Price Change % Change
Ford Motor Co 13.78 -0.62 -4.31%
Microsoft Corp 46.13 1.11 2.47%
Apple Inc 105.22 0.39 0.37%
Bank of America Corp... 16.72 0.12 0.72%
Yahoo! Inc 43.50 0.90 2.11%
Data as of 4:03pm ET

Sections

New York headlines took a straight forward and direct approach with NYC's Ebola news. More

With oil and gas prices falling, some in Washington are questioning whether it makes sense to hold 106 days worth of supply in storage. More

Shares of Facebook recently topped $80. They've more than quadrupled from their post-IPO lows of two years ago. Can Mark Zuckerberg keep the momentum in mobile going? More

Using technology developed for the military and implemented in Iraq, schools have installed alarm systems that detect gunfire. More

Big purchases often come with big expectations. So it's no wonder that in a recent survey 80% of homebuyers said they regretted at least one thing about their home. Here are ways to improve those odds. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.