Forecasters Upgrade U.S. Economic Outlook for 2024, Anticipate Growth

Professional forecasters now predict a 2.2% GDP growth for the U.S. economy in 2024, citing resilient job markets and cooling inflation as key factors.

Professional forecasters have significantly raised their growth expectations for the U.S. economy in 2024, predicting a 2.2% increase in GDP.
The revised forecast is attributed to resilient job markets, robust household spending, and cooling inflation.
Interest rate cuts are anticipated to begin by mid-June, as inflation approaches the Federal Reserve's target level.
Despite high interest rates, the U.S. economy has remained strong, defying predictions of a recession.
Concerns persist over high interest rates as the most significant risk to the economy, with 41% of forecasters highlighting this issue.

Portland Press Herald