The economic expansion will continue but growth will slow over the next 12 months, if you put stock in the latest Business Conditions Survey just out from the National Association for Business Economics. Less than half of respondents to the survey expect GDP growth to rise by more than 2 percent over the next four quarters — down from 53 percent who said so in April, and 67 percent who said so in January.
U.S. GDP rose 2.1 percent in the second quarter, according to data released by the Commerce Department last week, That was down from 3.1 percent in the first quarter and comes on the heels of 2.5 percent growth for all of 2018.
The Business Conditions Survey also suggested that the job market may be cooling slightly. One third of respondents said that they had hired during the second quarter, down from 44 percent who had said so a year earlier. And just under one third said they expected to hire in the next three months, down from 41 percent a year ago.
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