WASHINGTON (AP) -- Confronted with an economy that has decidedly underperformed this year, economists are scaling back their growth forecasts for 2011 and next year.
In their latest forecast, top economists with the National Association for Business Economics predict that the economy will grow 1.7 percent this year -- down from the group's May prediction of 2.8 percent expansion. For 2012, the group is forecasting growth of 2.3 percent, compared to a May forecast of 3.2 percent growth.Yahoo
The yields curves are too segmented for smooth approximations. The economy is adjusting to endogenous skew, the government is making it worse. Restructuring is still a flow, it is quantized into a channel, and parts of that channel want large changes in a single transactions.
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