Economic Forecasters See Slightly Slower Growth

New York, NY, July 12, 2010--A survey of private economic forecasters shows that the U.S. economy will lose steam as the year progresses but will not slide back into recession.

The Blue Chip Economic Indicators survey uncovered gloomy attitudes about the outlook. Forecasters now see the economy expanding just 3.1% in 2010, down from 3.3% in the June poll.

They do not, however, envisage a renewed period of contraction, which has been widely debated in financial markets in recent weeks.

"Our panelists think talk of a double-dip recession is overblown absent a new, major shock," the group said in its report.