Livingston Survey Forecasters Predict Steady Growth and Lower Unemployment (Dec. 2014)
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 in the December survey project that the economy’s output (real GDP) will grow at an annual rate of 3.1 percent for the second half of 2014 and output will grow at 2.9 percent in the first half of 2015. Forecasters see the unemployment rate falling next year from 5.7 percent in December 2014 to 5.4 percent in December 2015.
Go to Federal Reserve Bank of Philadelphia for further information and results: http://www.phil.frb.org/research-and-data/real-time-center/livingston-survey/index.cfm