Lower Near-Term Growth

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Fourth Quarter 2019 Survey of Professional Forecasters

The U.S. economy for the next four quarters looks weaker now than it did three months ago, according to 39 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The panel predicts real GDP will grow at an annual rate of 1.7 percent this quarter, down from 2.0 percent in the last survey, 1.9 percent next quarter, and 1.7 percent in each of the two following quarters. On an annual-average over annual-average basis, the forecasters expect real GDP to grow 2.3 percent in 2019, 1.8 percent in 2020, and 2.0 percent in 2021 and 2022, respectively.

For those who don't understand....the annual rates of growth are equal to or lower than the avg rate of growth since the great recession ended.