Economists Boost US Growth, Spending Forecasts Into Early 2025
- Recession odds trimmed to 25%, lowest since March 2022 survey
- Economists expect Fed to lower rates by 1.25 points next year
Household spending is still expected to moderate on a quarterly basis through the first quarter.
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Economists nudged up quarterly US economic growth projections through early next year on more sanguine views of consumer demand and maintained views that limited inflation will keep the Federal Reserve on a path toward lower borrowing costs.
The slight upward adjustments in gross domestic product from the third quarter of 2024 through the first quarter of 2025 indicate average growth of around 2% over the period, according to the latest Bloomberg monthly survey of economists.