Americans should get used to a "new normal" of slow economic growth, business economists say. U.S. economic growth averaged 3.1 percent a year from 1948 to 2015, according to the Congressional Research Service. But the business economists say Americans need to get used to slow growth: 80 percent of those surveyed believe the potential growth rate of the American economy will remain at 2.5 percent or lower over the next five years. A healthy job market means wage growth is likely to outpace inflation this year and next, the economists say. The economists expect the Federal Reserve to raise interest rates at its meeting next week and to follow up with two more rate hikes next year.

Source: ABC News December 05, 2016 05:03 UTC