The survey, which reflects the consensus among economic experts, suggests a robust economic outlook for the coming year. Panellists attribute the revised growth forecast to a range of factors, including a more favourable investment climate and increased consumer spending. Additionally, most NABE panellists are predicting that the Federal Reserve’s Federal Open Market Committee will begin to cut interest rates in the second quarter of 2024.
In a comparison with the Federal Reserve's December economic projections, the NABE panellists are more optimistic, forecasting stronger economic growth, lower inflation, and reduced unemployment rates. This positive outlook is shared by over three-quarters of the panellists, who believe that the US economy will achieve a soft landing in 2024, as per the survey.
ALCHEMPro News Desk (DP)
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