Economists have predicted the problem of Lower growth and Higher oil prices coming for America in the comming year.

NEW YORK – Economists are not getting right for their expectations for U.S. economic growth this year.

A Survey has been taken by National Association and it predicts GDP will grow 2.8 percent this year which is smaller as compared to the February prediction that it would grow 3.3 percent. So due to this bad survey examine by the US  their consumer spending and the housing market have also weakened, because it have been said that the Oil Prices will remain above $ 100 in the comming year i-e 2012..

A survey of the NABE which is released on Monday having 41 economists also said they this thing is the cause of the high concern for them and they expectations have been lower than what they expected for their country like for the some first months observed..

This thing is the one of the main concern and Problem for the residents as they are already paying alot and have alot of Financial Crises too.This will increase the prices of the everyday material in their life. Retailers of all stripes are paying more for the raw materials they need to make and transport their products, such as fuel, cotton and wood pulp and the government have left them with no choice but to supply them on the higher prices.

So this thing tells the whole stroy that terrorism would not be going to lessen down too in the comming year.The economists said they expect GDP to grow at 2.8 percent in 2011 whic is less than the 3.3 percent predited by them. They also lowered predictions for consumer spending growth this year

2.8 percent goes down from 3.2 percent

Oil will average $105 per barrel this year(Which is a point of concern for all of the world and for the country poor like ours too )

They expect oil prices to remain above at $103 a barrel throughout the 2012.

The Only Good Side

Business spending was the only good thing in the NABE predicted facts. The economists expect spending on business equipment and software to rise about 12 percent this year,  Corporate profits will rise by 8.5 percent according to the prediction.