The National Association for Business Economists quarterly survey showed little change in the forecasts compared with June in key areas such as economic growth, which was projected at 2.2 per cent in 2017 and 2.4 per cent in 2018. But the September survey of about 50 economists showed 48 per cent believe the risks to the economy are weighted to the downside, indicating chances for an economic slowdown, while 43 per cent see the risks tilted to the upside, meaning growth could outpace forecasts. That is a shift from June, when upside risks outweighed downside risks by 60 to 36 per cent. The survey showed 73 per cent of respondents believe individual tax cuts will be enacted by the end of 2018, down from 83 per cent in the June survey. Analysts say hurricanes typically depress short-term growth, but the hit is made up for later as rebuilding fuels economic activity.

Source: New Strait Times September 25, 2017 04:30 UTC