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US economy to expand 3.3% in 2011

03-01-2011 12:30 BJT

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U.S. economy is expected to grow faster than previously estimated. A survey by the U.S. National Association for Business Economics says this will be achieved as demand from consumers, businesses and other countries pick up.

The association says the U.S. economy will grow 3.3 percent year-on-year in 2011, up from the previous prediction of 2.6 percent last November. With respect to inflation, economists expected the consumer price index, excluding food and energy costs, to increase by only 1.2 percent in 2011.

Because of persistently high unemployment and low inflation, the Association pushed back its forecast for the Fed's first increase in its benchmark interest rate to the first quarter of 2012.

Editor:Xiong Qu |Source: CNTV.CN

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