Modest GDP Growth Forecasts for USA
2023-02-01
According to the latest release of the Federal Reserve Survey of Professional Forecasters for USA, the GDP growth rate for the year 2023 is forecasted to remain unchanged at 1.3% compared to the previous forecast released on the same day. However, the forecast for the year 2024 has slightly increased to 1.4% from the previous forecast of the same value. These forecasts seem to be quite conservative and modest compared to some of the other projections made by other sources. For instance, the International Monetary Fund (IMF) forecasted a GDP growth rate of 4.4% for the USA in 2023 and 3.3% for 2024. Similarly, the World Bank projected a growth rate of 3.3% in 2023 and 3.1% in 2024 for the USA. Nonetheless, more data and analysis will be needed to understand the rationale behind these projections, and whether they are influenced by market trends or have underlying assumptions about policy changes or external factors.