WASHINGTON — Call it the big fizzle. The hoped-for second-half economic rebound is looking to be lethargic, with the country straining under high energy prices and fallout from the housing and credit debacles.

Forty-five percent of economists believe that the economy won't log any growth or will clock in at a feeble 1 percent pace in the final half of this year, according to a survey being released today by the National Association for Business Economics, known by the acronym NABE. And 10 percent think that economic activity could actually contract during the period.

"Forecasters are approaching the second half with a lot of caution," said Ken Simonson, point person on the survey and chief economist for the Associated General Contractors of America. "Most forecasters are suggesting the outlook will be sluggish, but not desperate. I'm afraid we're stuck on the ground floor of growth."

Thirty-two percent, meanwhile, think that growth during the second half could be from 1 to 2 percent, which would mark a plodding performance. The more bullish are clearly in the minority: 11 percent think that growth will come in between 2 and 3 percent. Only 1 percent expect growth to surpass 3 percent.

Growth slowed sharply in the final quarter of 2007 and remained stuck in a rut in the first quarter this year. Tax rebates, which energized shoppers, should help lift the country out of the doldrums somewhat in the second quarter. The government releases its estimate of the second quarter's economic performance at the end of this month. However, as the bracing force of the rebates fade, some analysts fear that the economy could hit another rough patch near the end of this year.

Earlier this year, many thought that the first half of the year would be difficult and the second half would be stronger, lifted by the government's $168 billion stimulus, including tax rebates for people and tax breaks for businesses. With the rebates kicking in earlier than some expected, the second half could turn sluggish.

Many have "abandoned the notion of seeing a rebound," Simonson said.

Federal Reserve Chairman Ben Bernanke, who briefed Congress last week, warned that over the rest of the year, the economy will grow "appreciably below its trend rate" mostly because of continued weakness in housing, high energy prices and tight credit. Normal activity would be along the lines of a 2.5 percent to 3 percent growth rate.

Treasury Secretary Henry Paulson on Sunday sought to reassure an anxious public that the banking system is sound, while also bracing people for more troubled times ahead.

"I think it's going to be months that we're working our way through this period — clearly months," he said.

Not only is the country slogging through lethargic growth, but it is also confronted by rising prices that threaten to spread inflation. In the NABE survey, 75 percent reported paying more for raw materials, such as fuel and steel. That's the highest percentage in record keeping going back to 1994. Higher prices are squeezing profit margins and leading 35 percent of firms to boost their prices, the survey found. That's up from 29 percent that said their companies raised prices in the previous survey in April.

Meanwhile, most forecasters expect a continued slowdown in housing over the next six months, although they think that it will be "mild" versus "substantial."

Grappling with fallout from housing and credit troubles and stung by high costs for energy and other raw materials, employers have cut jobs in each of the first six months of this year. Over the next six months, 51 percent said they expected to hold payrolls steady. Twenty-nine percent expected to boost them and 20 percent thought that jobs would be reduced through layoffs or attrition.

The survey, based on the responses of 101 NABE members, was conducted between June 19 and July 10.