SPRINGFIELD, Mass. (WWLP) – A new survey of leading economists predicts the country’s continued recovery to happen at more of a sluggish pace than originally expected.
Nearly three dozen analysts in the AP report expect only marginal economic growth, weak pay gains and modest hiring for the next two years at least.
Western New England University Economics Professor Karl Petrick told 22News wages have stayed flat, but usually they increase as the job market picks up and companies compete for workers. “Wages stay flat, then people don’t spend as much money. That’s really what you need in the economy, is people spending. “
Nearly 70 percent of those surveyed believe the economy’s growth will remain below 3 percent annually through 2017. It means the economy is still growing, but at a slow and steady pace.