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.
Best Buy is the latest retailer to follow a new trend of week-long sales for 'Cyber Monday.' More
Nearly six in ten black Americans surveyed by CNN/Kaiser Family Foundation say that they or a close friend or family member have been incarcerated -- and a majority of them come from low-income households. That leaves the many families of inmates in a precarious financial situation. More
Raspberry Pi bests itself with a smaller, cheaper computer that costs $5. More
Shoppers around the country braved the crowds to get their hands on the best Black Friday deals. More