13.6 C
Tuesday, October 4, 2022
Top NewsRecent Research Projects Weaker Economic Growth And More Inflation...

Recent Research Projects Weaker Economic Growth And More Inflation In The US


In a study issued on Monday by the National Association of Business Economics(NABE), analysts forecast that the U.S. economy will see weaker growth and greater inflation by year’s end.

The median expectation for the inflation-adjusted gross domestic product (GDP) for the fourth quarter of this year is a 1.8% growth over the same time in 2021, compared to a median forecast of 2.9% in February, according to the study.

A Survey Predicts Less GDP And Greater Inflation In The US

NABE Outlook Survey Chair Yelena Shulyatyeva, a senior U.S. economist at Bloomberg Economics, stated the following:”Seventy-seven percent of the panelists indicate the risks to U.S. economic growth are tilted to the downside this year, with monetary policy missteps representing the greatest downside risk,”

The reduced growth prediction is a result of greater geopolitical unpredictability, rising inflation in the country, and an increasingly unpredictable worldwide market. The study performed by the NABE between May 2 and May 10 reveals the consensus macroeconomic prediction of 53 expert forecasters.

NABE panelists have increased their estimates for both the consumer price index (CPI) and the personal consumption expenditures (PCE) price index, which is the Fed’s favored inflation gauge.

According to the study, the CPI is expected to increase by 5.6% year-over-year in the fourth quarter of this year, which is two percentage points more than the median projection of 3.6% from the February survey. In the meanwhile, over 90 percent of panelists expect the core PCE inflation rate to peak by the end of this year.

53 percent of respondents give a likelihood of more than 25 percent that a recession would occur in the United States during the next 12 months, and an additional 40 percent of the panel indicate the probability is between 11 percent and 25 percent, according to the study.

A little more than a quarter of panelists predict a recession will occur in the second half of the following year, while 25 percent say it will come either before the end of this year or in the first half of the following year. According to the study, one-third of panelists believe a recession will not emerge until 2024 or later.


Please enter your comment!
Please enter your name here

Latest news

Jack Ryan Season 3 Release Date, Cast, Plot, Trailer & More Updates!

Jack Ryan has had 2 successful seasons up until now that was released in the year 2018 and 2019...

Bling Empire Season 3 Release Date, Trailer, Cast, Plot!

The Netflix reality television series Bling Empire began on January 15, 2021. The show covers the lives of affluent,...

Olivia Cooke Flaunts Her Toned Figure Posing Seductively For A Popular Lingerie Line

CEO Savage x Fenty Olivia Cooke, who stars in the series "House of the Dragon," is the new face...

Jordan Belfort Net Worth, Age, Sources Of Income, Bio!

How many of you would love to get your life story portrayed in a movie? Great, right? Then, how...

David Beador Net Worth, Sources Of Income, Bio!

David Beador is an awesome personality in the American business world. He belongs to Newport Beach and appeared in...

Minecraft YouTube Gamer Dream Finally Reveals Face To Millions Of Followers

Dream used to be known as a smiley face icon, but in a video released early Monday, he took...

Must read

Amended Autopsy Reports Says That Elijah McClain Died Due To Sedative

In 2019, a black man named Elijah McClain died...

Cherry Valentine: Drag Performer George Ward Dies at 28

Drag performer George Ward, known to the world as...

Chicago Med Season 8 Release Date, Cast, Plot, Spoiler & More Updates!

Chicago Med is an American television series exploring the...

Jamie Roy, Scottish DJ & Producer Passes Away At Age Of 33!

Jamie Roy, a Scottish DJ, and producer, has died...

Margot Robbie Says She Was ‘Mortified’ When Barbie Photos Went Viral

Margot Robbie has said that the experience of making...

You might also likeRELATED
Recommended to you