Economists Cut U.S. Growth Forecasts Through 2011, Survey Shows

The U.S. economy, the world’s largest, will expand less than previously estimated as a lack of jobs restrains consumer spending through 2011, a survey showed.

Gross domestic product will increase 2.6 percent this year and next, according to the median of 46 economists surveyed by the National Association for Business Economics from Sept. 2 to Sept. 21. A May poll projected growth of 3.2 percent for both years. Economists also cut estimates for personal spending, employment and consumer prices.