Nonetheless, it is fair in that it measures the sentiment of economic bloggers, and in this report the tone is leaning more negative with concerns over the budget deficit and rising debt levels. It’s an interesting skim with some well presented charts.
KEY FINDINGS - The Economy
Economics bloggers have a bleak outlook of the U.S. economy, with 48 percent responding that conditions are worse than official statistics indicate, and only 6 percent saying it is better. Seven percent of respondents say the economy is strong, while 33 percent say it is weak, with the remainder saying it is mixed.
When asked for the growth prospects for key measures of economic activity over the next three years, the largest increases are expected to be in interest rates, inflation, and the budget deficit. U.S. output and jobs are expected to increase, but with about half the intensity of growth in global output. The respondents say the prospects for the entrepreneurial economy in the United States are grim as well. The panel assesses conditions as “bad” or “very bad” for small business (52 percent) and bank lending to business (51 percent) and individuals (50 percent). The outlook for entrepreneurs is a relative bright spot, with opinions mixed between bad conditions (36 percent) and good (26 percent).
Economic Bloggers Survey Q1 2010v12