BUSINESS NEWS DIGEST | Survey: Economy to grow some in ’12

Survey: Economy to grow some in ’12

NEW YORK

Industry economists say the U.S. economy will continue to expand at a moderate pace through next year, boosted by a rise in consumer and, especially, business spending — but joblessness is expected to remain high, and the pace of the housing recovery will be sluggish.

A new survey from the National Association for Business Economics found that economists are more optimistic about the pace of the recovery than they were in November. For 2012, the panel expects the economy to grow 3.4 percent when compared with 2011.

Japanese stocks rise

NEW YORK

Japanese stocks have disappointed investors since 1990. No longer.

Japan’s Nikkei 225 index has climbed 15 percent since Nov. 1. The increase means Japanese stocks have done better over the past four months than they have in 17 of the last 21 calendar years. They are also beating the major indexes in the U.S. and other countries. It’s new ground for the Nikkei 225, which has done worse than U.S. stocks in all but four years over the past two decades. Even with the gains, the Japanese index is still 73 percent below its peak, set Dec. 29, 1989.

Buffett is optimistic about US’s future

OMAHA, Neb.

Billionaire Warren Buffett wants Americans to be optimistic about the country’s future but wary about borrowing money and the games public companies play with profit numbers they report.

Buffett said in his annual letter to Berkshire Hathaway shareholders Saturday that he still believes America’s best days are ahead.

“Commentators today often talk of ’great uncertainty.’ But think back, for example, to Dec. 6, 1941, Oct. 18, 1987 and Sept. 10, 2001,” Buffett wrote, referring to the days before the Pearl Harbor attack, a stock-market crash and terrorist attacks in the U.S. “No matter how serene today may be, tomorrow is always uncertain. Don’t let that reality spook you.”

He said a housing recovery will likely begin within the next year.

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .62, 22.32 .01

Avalon Holdings,2.92.00

Clear Channel, .76 52.31 —.14

Cortland Bancorp, 5.75.05

Farmers Nat., .12, 4.72 —.08

First Energy, 2.20, 37.75—.41

FirstMerit Corp., .64,17.01 .41

First Niles Financial, .32,14.60.30

First Place Fin., 3.25.00

FNB Corp., .48,10.10.17

General Motors,33.25.23

General Electric, .56,20.82.24

Motors Liquidation, .07.00

Huntington Bank, .04, 6.94.12

JP Morgan Chase, .20,46.68.77

Key Corp, .04,9.29.26

LaFarge, 15.15 .11

Macy’s, .20, 23.60.43

Parker Hannifin, 1.28, 88.55.91

PNC, .40,61.88.71

RTI Intl. Metals,27.89.88

Rural/Metro, 15.00 .56

Simon Prop. Grp.,3.20,106.981.34

Stoneridge 15.02 .66

United Community Fin. 1.47—.02

Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.