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As Americans move into the second half of 2008, it appears an economic turnaround this year is unlikely.

The National Association for Business Economics reports that 45 percent of economists believe the economy won't log any growth or will clock in at a small 1 percent pace in the final six months of this year. And 10 percent think economic activity could contract during the period.  Thirty-two percent, meanwhile, think the economy growth's during the second half could be between 1 percent and 2 percent. Eleven percent think growth will come in between 2 percent and 3 percent.

NABE also finds that 75 percent of businesses are paying more for raw materials, such as fuel and steel. That's the highest percentage in the group's record-keeping that dates back to 1994.