U-M forecast predicts more US economic growth
University of Michigan forecast predicts steady climb in US economy over next 2 years
ANN ARBOR, Mich. (AP) -- Economists at the University of Michigan say the U.S. economy will continue a steady climb over the next two years.
That's according to an annual forecast released Thursday in Ann Arbor.
The predictions come from Daniil Manaenkov of the Research Seminar in Quantitative Economics in the university's Department of Economics and colleague Matthew Hall.
The economists say more than 5 million jobs are expected to be created over two years, including about 2.5 million jobs next year and another 2.8 million during 2015. During that time, they say unemployment will fall from above 7 percent to about 6 percent.
According to the forecast, there will be growth in the nation's economic output and additional recovery in the U.S. housing market.