06.08.2016
The Livingston Survey which began in 1946 is the oldest continuous survey of economists’ expectations. The Federal Reserve Bank of Philadelphia has released results from the December survey. Bob Chase senior economist at EPR has been a member of the Livingston Survey since the early 1990s.
Forecasters project that real GDP will grow at an annual rate of 1.4% during the first half of 2016 lower than previously estimated. They expect growth to rise to 2.4% during the second half of the year which is more in line with projections in the December 2015 survey. Unemployment is expected to be 4.9% this month and 4.7% in December. Long term forecasters see the real GDP growth rate at 2.2% and the CPI growth rate at 2.25%.
The full report is available below as a PDF:
