US Economy Seen Skirting Recession But With Sticky Inflation
- Economists surveyed no longer see consecutive GDP contractions
- Projections marked up for inflation excluding food and energy
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The US economy is now expected to narrowly dodge a recession this year but underlying inflation will be faster than previously thought, according to the latest Bloomberg monthly survey of economists.
Gross domestic product is now forecast to only contract in the final three months of the year, and it’s projected to merely stagnate in the third quarter instead of shrink, the June survey showed.