Economists surveyed by the National Association for Business Economics expect broad economic growth through 2017, the association announced today. The forecaster’s median forecast in the new survey is for inflation-adjusted US real gross domestic product to grow at an annualized rate of 1.6% in 2016 before accelerating to 2.2% in 2017 — largely unchanged from expectations of 1.5% and 2.3%, respectively, in a September survey.

Real GDP grew 2.6% in 2015.

“Few economists participating in the survey believe a business cycle peak is imminent,” said NABE President Stuart Mackintosh, executive director, Group of Thirty. “However, the slow pace of growth in recent years may be the ‘new normal,’ as more than 80% of survey panelists estimate that the potential rate of economic growth will be 2.5% or lower over the next five years. Panelists identified boosting infrastructure investment and reforming tax and regulatory policies as the most important things the incoming administration and Congress can do to lift economic growth during the next presidential term.”

NABE is a professional association for business economists and others who use economics in the workplace. The survey included 52 forecasters and was conducted between Oct. 31 and Nov. 16. Panelists who submitted forecasts before the US election results were known on Nov. 9 were contacted and given the opportunity to resubmit.

Panelists forecast nonfarm payroll growth to average 178,000 jobs per month in 2016 — down from 185,000 forecast in the September survey — and then slow to 168,000 per month in 2017, as the labor market approaches full employment. The projected job creation figure for 2017 is unchanged from the September survey.

On the other hand, The Conference Board’s US Employment Trends Index rose in November to a reading of 129.96 from October’s reading of 128.95. “The Employment Trends Index is showing some signs of acceleration, suggesting that employment growth will not slow down further in the coming months,” said Gad Levanon, chief economist, North America, at The Conference Board. “Moderate employment growth will be enough to make the labor market even tighter, leading to more visible acceleration in wages and inflation.”

And in another economic report out today, the Institute for Supply Management’s nonmanufacturing composite index rose to a reading of 57.2 from October’s reading of 54.8. This is a 12-month high, and the highest reading since the 58.3 registered in October of 2015. Readings above 50 indicate expansion in the sector. The employment portion of the index also rose in November for the sixth consecutive month. The index rose 5.1 percentage points to 58.2 from the October reading of 53.1. This is the highest reading since October of 2015 when the index registered 58.4.