Economic Outlook Increasingly Pessimistic

Business economists have turned more negative about what lies ahead.
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Washington (AP) Business economists have turned more negative about what lies ahead.

The latest survey from the National Association for Business Economics says about a third of those asked look for the economy to contract in the first half of this year.

Another 50 percent look for growth between zero and one percent.

And 70 percent say they are more pessimistic about the outlook for the full year than they were in January.

Is the worst over for housing? Some 45 percent of the business economists expect a further substantial slowdown in housing over the next six months, down a bit from earlier this year. Nearly half expect a further mild slowdown in housing.