The outlook for the US economy looks stronger than it did three months ago, according to the latest Survey of Professional Forecasters released today by the Federal Reserve Bank of Philadelphia.
Forecasters raised their estimates for growth in US gross domestic product from the second quarter of this year onward, though growth estimates for this quarter were unchanged from the previous forecast at 3.2%.
In addition, they see lower unemployment rates ahead.
Still, forecasters lowered their estimates for job growth in this and the second quarter. And while they raised their estimates for the third and fourth quarters, overall job growth for 2021 is down from the earlier estimate.
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