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Forecasters Hold the Line on Their Estimates for Growth

From philadelphiafed.org

The outlook for the U.S. economy is little changed from the survey of three months ago, according to 39 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The forecasters expect real GDP to grow at an annual rate of 1.8 percent this quarter, down from the previous estimate of 2.2 percent. Over the next three quarters, they expect GDP growth to average 2.1 percent, down from the previous average of 2.2 percent. On an annual-average over annual-average basis, the forecasters see real GDP growing 2.2 percent in 2012, unchanged from their prediction in the survey of three months ago. The forecasters ... (full story)

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