Sometimes the best news is that things aren’t going to get worse. At least that is the take away from news this week that economists say we’re looking at an ecnomic growth in 2012 of two percent or more. It’s just enough to keep things from getting worse, but not enough to see much evidence of things getting better.

The survey of the National Association of Business Economists (NABC) took place from December 15 through January 5, 2012. Of the 63 respondents, two-thirds of them see the U.S. GDP improving no more than two percent in 2012. This is based on three main factors:

1) Slight improvement in unemployment numbers (which as of this writing is still at a three-year high of 8.5 percent)
2) Relativly impressive holiday retail sales
3) Assumption that Congress will manage to reach a debt reduction deal

Only time will tell if the NABC is on target with its predictions. In fact, we have yet to know how their 2011 predictions turned out. The NABC predicted a 1.8 percent growth in the GDP last year. We’re set to see those final numbers on Friday. Incidentlly, a truly positive sign that economic growth is on a true upswing would be a GDP growth rate of at least 3 percent.

Though this news bodes well for an economy that cannot afford to see things worsen, it should be a sobering sign to consumers to keep their belts tight. Though it’s good to have a positive outlook on things, let this be increased inspiration to keep your debt down and your budget in check in the New Year.

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