Economists are looking to the rebounding housing market to offset the decline in business investment to achieve modest economic growth next year. That growth is expected to be 2.1 percent compared to the 2.2 percent growth of this year. With an anticipated average of 7.7 percent, that tepid pace will not do much to the unemployment rate. About half of the economists on the panel blame a 0.2 percentage drop in the current quarter on Superstorm Sandy, but one-third of the economists say she’ll make that back thanks to the rebuilding effort.
The Illinois carrier recently raised $35 million through a stock offering.
One of the recorded votes on amendments was on a jab at short-term health insurance.
A Principal Financial executive represented life insurers at the hearing.
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