What recession? Professional forecasters raise expectations for US economy in 2024

NEW YORK (AP) — This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago. That’s according to a survey released Monday by the National Association for Business Economics. The economy looks set to grow 2.2% this year after adjusting for inflation. That’s up from an earlier forecast of 1.3%. It’s the latest signal of strength for an economy that’s blasted through predictions of a recession. High interest rates were supposed to drag the economy down eventually. But the job market and household spending have remained remarkably resilient.