Forecasters see weaker near-term growth in U.S. real GDP: survey

2018-11-14 15:26:00 | From:Xinhua

The U.S. economic growth outlook in near terms was slightly weaker while forecasts on unemployment and inflation remained steady, according to a survey released Tuesday by the U.S. Federal Reserve Bank of Philadelphia.

The quarterly survey, called "the Survey of Professional Forecasters," showed that the median forecast for U.S. real GDP growth rate for the fourth quarter was 2.6 percent, down 0.2 percentage points from the forecast three months ago for the third quarter, said the Philadelphia Federal Reserve Bank (Fed).

However, the survey said that the U.S. unemployment rate would stay at 3.7 percent for this and next quarter. The forecasters expected an even lower unemployment rate of 3.6 percent in the second, third and fourth quarters of 2019.

The survey is based on a poll of 37 economist.

On inflation, the Philadelphia Fed said that the current outlook for the consumer price index (CPI) and personal consumption expenditure (PCE) inflation during the next two years remained mostly unchanged.

The survey showed said that the median projections of headline CPI remained between 2.3 percent and 2.4 percent in 2019, while headline PCE inflation stayed between 2.1 percent and 2.2 percent.

First conducted in 1968, the Survey of Professional Forecasters is the oldest quarterly survey of macroeconomic forecasts in the United States, according to the Philadelphia Fed.

The Philadelphia Fed also celebrated the 50th anniversary of the survey on Tuesday.

Your Comment


Related News