Livingston Survey—December 2016 Release (Dec. 2016)
Forecasters participating in the Federal Reserve Bank of Philadelphia’s Livingston Survey predict improved output growth over the second half of 2016 as well as an uptick in growth into 2017. Forecasters project that real GDP (Gross Domestic Product) will grow to an annual rate of 2.7 percent in the second half of 2016 and growth of 2.2 percent in the first half of 2017 and 2.4 percent in the second half of 2017. Inflation—as indicated by the CPI (Consumer Price Index) and PPI (Producer Price Index)--are expected to rise from 1.3 percent and -1.0 percent in 2016 to 2.4 percent and 2.7 percent in 2017 respectively. Other economic indicators included in the survey are nominal GDP, nonresidential fixed investment, corporate profits after taxes, industrial production, housing starts, auto sales, average weekly earnings, prime interest rate, 3-month Treasury Bill, and S&P 500 stock price. The Philadelphia Fed’s Livingston Survey is the oldest survey of economists’ expectations and is published twice a year in June and December. Bob Chase, senior economist at EPR is a long-standing participant in the Survey.
For further information on the Survey, follow the link below.