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MNI: Philly Fed Forecasters Lower Inflation, Jobless Estimates

(MNI) WASHINGTON

Analysts expect a stronger U.S. labor market amid less inflation than they did three months ago and see little slowing in the economy, a Federal Reserve Bank of Philadelphia survey released Friday showed.

The quarterly Survey of Professional Forecasters predicts the economy expanding at an annual rate of 2.1% this quarter, up from the prediction of 0.8% in the last survey. The 34 forecasters expect real GDP to increase 2.4% in 2024, up 0.7ppt from the estimate in the previous survey.

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Analysts expect a stronger U.S. labor market amid less inflation than they did three months ago and see little slowing in the economy, a Federal Reserve Bank of Philadelphia survey released Friday showed.

The quarterly Survey of Professional Forecasters predicts the economy expanding at an annual rate of 2.1% this quarter, up from the prediction of 0.8% in the last survey. The 34 forecasters expect real GDP to increase 2.4% in 2024, up 0.7ppt from the estimate in the previous survey.

Keep reading...Show less