Wells Fargo has come out with its annual economic forecast for the upcoming year and the outlook calls for sustained subpar growth, low inflation and easing from the Federal Reserve.

Sound familiar?

“Repetitive, yes, but these three themes have been a useful guideline to the economic outlook for the past three years and underlie our view for 2014,” the report reads. “Sustained, below-trend economic growth reflects caution on both the part of consumers and business decision makers over the past few years.”

Wells Fargo forecasts growth improving to 2.4 percent with much of the improvement in the private sector. The bank also expects a modest gain in consumer spending along with stronger investment in business equipment, structures and housing. But government spending will remain a drag.

The labor market is expected to improve slightly and Wells Fargo is looking for monthly gains of 180,000 to 190,000 jobs on average in 2014, along with a modest decline in the unemployment rate below 7 percent. Meanwhile, inflation should remain low and is not expected to be a concern to investors or the Federal Reserve. Wells Fargo expects 1.6 percent rise in the Fed’s benchmark inflation indicator in 2014, the PCE deflator, compared to an increase of 1.1 percent in 2013. The expected rate of inflation for 2014 remains below the Fed’s 2 percent benchmark.

North Carolina business leaders will have the chance to hear additional economic perspectives next week during the 12th Annual Economic Forecast Forum. The Jan. 6 event at the Sheraton Imperial Hotel & Convention Center, 4700 Emperor Blvd., Durham, is presented by the North Carolina Bankers Association and the North Carolina Chamber.

BB&T Chairman and CEO Kelly King is scheduled to give the keynote address. Other speakers include Gov. Pat McCrory, U.S. Senator Richard Burr and economist Harry Davis from the North Carolina Bankers Association. The preliminary session will run from 10:30 a.m. to 11:30 a.m.; the luncheon follows at noon.

For more information including registration details, go to the NC Chamber’s website.