Economists are nudging quarterly U.S. economic projections up through early next year as optimism grows for consumer demand and limited inflation, Bloomberg reports.
The latest Bloomberg survey of economists predicts a slight adjustment of 2% growth in gross domestic product from the third quarter of this year through the first quarter of 2025.
While the overall pace of economic growth is expected to slow next year, forecasters trimmed their expectations for a recession to 25% odds, the lowest reading since March 2022.
Despite the optimism, forecasters are predicting that monthly payroll growth will drop from this year’s averages and that unemployment will slightly rise from the current 4.1% to 4.3%.
Read the full story. A subscription may be required.
