Wells Fargo
Business group's outlook for U.S. economy in 2015 and 2016 improves

A business economics group has boosted its outlook for U.S. economic improvement this year and next, particularly for job growth. The March report from the National Assn. for Business Economics forecasts more hiring, a lower unemployment rate, a lower inflation rate and more growth in consumer spending in 2015, compared with the group's forecast in December. The report also predicts more investment by businesses in both equipment and intellectual property, as well as modest growth in stock prices. "Healthier consumer spending, housing investment and government spending growth are expected to make outsized contributions to the projected acceleration in overall economic...