Philly Fed's Q2 2020 Survey of Professional.....>

FED: Philly Fed's Q2 2020 Survey of Professional Forecasters: 

* 42 forecasters surveyed expect GDP -5.6% in 2020, to recover at an annual rate

of 2.2%-4.1% over each of the following three years. For 2020, forecasters see

less than 3% chance that YoY growth will be positive. For 2021, predict 90%

chance YoY GDP growth will be positive. 

* For GDP: See -32.2% GDP annualized in Q2; +10.6% in Q3; +6.5% in Q4; +6.8% in

Q1 2021; +4.1% in Q2 2021. 

* For unemployment: See 16.1% in Q2; 12.9% in Q3; 11.0% in Q4; 9.3% in Q1 2021;

and 8.8% in Q2 2021. 

* For 2020, forecasters see 65% chance unemployment will be greater than 10%.

* For Core PCE inflation: see 1.0% for Q2; 1.3% for Q3; 1.4% for Q4; 1.6% for Q1

2021; 1.7% for Q2 2021.