Photograph by Sam Hodgson/Bloomberg
Workers build a house in Rancho Santa Fe, California.
That’s how much economists predict the U.S. GDP will expand in 2013, according to the median of 86 projections compiled by Bloomberg.
Growth will slow down from 2.2 percent in 2012, as the federal government seeks to rein in its budget deficit through spending cuts and tax increases. Even if the impact of the so-called fiscal cliff is ultimately blunted, Congress already has agreed on discretionary spending reductions that may curb economic growth somewhat.
With assistance from Rich Miller.
