Updated: Monday, 25 Feb 2013, 8:42 AM EST
Published : Monday, 25 Feb 2013, 8:43 AM EST
WASHINGTON (AP) — The latest glimpse into the crystal ball by economic forecasters suggests another year of sluggish growth before things start to take off in 2014.
In its latest survey of top forecasters, the National Association for Business Economics says it expects the economy, as measured by the gross domestic product, to expand at an annual rate of 2 percent this year, slightly worse than last year's lackluster 2.2 percent growth.
For 2014, however, the NABE forecasters believe the economy will be growing at a rate of 2.8 percent, which would be the best performance since 2005.
Since then, economic growth has been modest as the economy has been held back by a variety of factors including prolonged unemployment, uncertainty stemming from the budget battles in Washington and Europe's on-going debt problems.