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Forecasters boost outlook for economy

A business economics group has boosted its outlook for U.S. economic improvement this year and next, particularly for job growth.

The March report from the National Association for Business Economics forecasts more hiring, a lower unemployment rate, a lower inflation rate and more growth in consumer spending in 2015, compared to the group's forecast December 2014.

The report, released early today, also predicts more investment by businesses in both equipment and intellectual property, as well as modest growth in stock prices.

Other factors driving the improved forecast include an increased pace of activity in the housing sector, the strong dollar and continued low oil prices.

The NABE report did contain some negatives, however. Those include a widening U.S. trade deficit in 2015, a 
0.1 percent dip in 2015 hourly compensation growth from December's prediction to 2.5 percent, and scaled-back forecasts for 2015 corporate profit growth, down 2 percentage points to 4.7 percent from December's forecast.

Fishermen to discuss future of shuttered Maine shrimp fishery

Fishery regulators are holding a public hearing in Portland to discuss the future of New England's closed Maine shrimp fishery.

The shrimp fishery closed in 2013 and has yet to reopen because of concerns about shrimp population levels. The Atlantic States Marine Fisheries Commission is collecting feedback from the public about establishing a limited fishery for the shrimp "for use in the future if and when the stock recovers and the fishery can be re-opened."

The Portland hearing is scheduled for 6 p.m. today at the Casco Bay Ferry Terminal Conference Room.

Fishermen from Maine, New Hampshire and Massachusetts harvested Maine shrimp prior to the collapse of the fishery in 2013. Regulators held prior public hearings about shrimp season in Rockport, Maine, Portsmouth, N.H., and Gloucester.

TODAY

 Commerce Department releases personal income and spending for February.

 National Association of Realtors releases pending home sales index for February.

TOMORROW

 Standard & Poor's releases S&P/Case-Shiller index of home prices for January.

 Conference Board releases the Consumer Confidence Index for March.

WEDNESDAY

 Institute for Supply Management releases its manufacturing index for March.

 Commerce Department releases construction spending for February.

 Automakers release vehicle sales for March.

THURSDAY

 Labor Department releases weekly jobless claims.

 Commerce Department releases international trade data for February.

 Commerce Department releases factory orders for February.

 Freddie Mac, the mortgage company, releases weekly mortgage rates.

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