IN BRIEF

WASHINGTON

Economists predict sluggish growth rate

Weighed down by a housing slump, the economy in 2007 will log its most sluggish growth in five years. But that showing should not cause businesses to really clamp down on hiring, economic forecasters say.

A forecast released today by the National Association for Business Economics puts the growth of the gross domestic product at 2.2 percent for this year. The rate was 2.7 percent in the group’s previous survey, in February.

If the latest prediction proves correct, the growth rate would be the weakest since 2002 when the economy grew by just 1.6 percent.

The main culprit is the sour housing market. It fell into a slump last year after a five-year boom. Nearly half of the forecasters think the market will not reach its bottom until this winter or later.

Even so, the employment climate should continue to weather the fallout from the housing slump, the forecasters said.

They predict the unemployment rate for 2007 will match last year’s rate of 4.6 percent, a six-year low.

For next year, the forecasters believe the economy will grow by 2.9 percent — somewhat sluggish and lower than the earlier forecast of 3 percent.

The unemployment rate would edge up to 4.8 percent next year, according to the survey of 48 forecasters that was conducted April 19 through May 8.

BILOXI, Miss.

Biloxi casino announces expansion

IP Casino Hotel Spa has announced a $100 million land acquisition and expansion in Biloxi.

Last week, IP President and General Manager Jon Lucas told members of the Mississippi Gaming Commission that some of the expansion is under way.

Lucas said Friday the largest project involves closing the movie theater, probably after July, to make room on the second floor for expanded convention and meeting space.

About 900 slots will be located off the casino barge. Fourteen table games will be added and the poker room will move from the third floor.