Economists Expect Economic Expansion to Continue Through 2020
December 19, 2019
The current economic expansion, already in its 11th year, is expected to continue into a 12th. At least, if the economists who participate in the Wall Street Journal’s economic survey are correct. The panel of 57 economists was optimistic about the prospects for the coming year, while acknowledging that growth would likely slow from 2019.
They believe that the labor market will remain strong in the first half of 2020, then slowing a bit in the last half. Though they expect unemployment will see just a small uptick.
They anticipate economic growth to slow slightly, from an estimated 2.2 percent increase in GDP for Q4 2019 to 1.8 percent growth by Q4 2020. Only one-fifth expect a recession to begin next year.