Survey predicts slower pace of economic growth

A survey of corporate economists predicts the economy will expand over the next year, although the pace of growth will decline and employers are facing pressure to raise wages, spend more on worker training and automate tasks because of the low unemployment rate.

Just 53% of the economists polled for the National Association for Business Economics' April survey, expect the economy to grow by more than 2% this year, down from 67% who felt that way in January. The results from the survey suggest a sharp slowdown after the Commerce Department reported Friday that the economy grew at a strong 3.2% during the first quarter.

The economy grew quickly during the first three months of 2019 because of a surge in company inventories and a shrinkage in the trade gap, temporary factors that are likely to fade.