Bloomberg BNA's Midyear Economic Outlook Forecasts Continued Expansion
Arlington, Va.(July 3, 2012) - The U.S. economy will continue to expand over the next year, despite risks from the European sovereign debt crisis and the "fiscal cliff" confronting the federal government, according to Bloomberg BNA's midyear Economic Outlook released today.
The consensus forecast of 16 economists surveyed in June calls for the unemployment rate to decline from 8.2 percent currently to 7.8 percent on average in 2013.
In addition, the inflation rate will remain low, at around 1.8 percent to 1.9 percent this year and next, and most analysts expect Federal Reserve policymakers to keep its target interest rate at historic lows until at least the third quarter of 2014.
Following is a summary of the 2012-2013 forecast:
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