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Tags: projected economic GDP growth in first quarter of 2022

US Economy Could be Weaker in Q1 Than Previous Projections

economic projections
(Dreamstime)

Friday, 11 February 2022 11:21 AM EST

The U.S. economy could grow more slowly in the first quarter than was expected last fall, but the unemployment rate may come down faster, according to a survey of forecasters released Friday by the Philadelphia Federal Reserve.

The forecasters now predict that the U.S. economy could grow by 1.8% in the first quarter of this year, down from the 3.9% growth expected last November. But growth for the year is only expected to be modestly lower, with forecasters projecting a 3.7% increase in real gross domestic product for 2022, down from the 3.9% projected in November.

Forecasters also expect inflation to stay steady over the longer term, estimating that the personal consumption expenditures price index will average 2.2% a year over the next decade.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
The U.S. economy could grow more slowly in the first quarter than was expected last fall, but the unemployment rate may come down faster, according to a survey of forecasters released Friday by the Philadelphia Federal Reserve.
projected economic GDP growth in first quarter of 2022
124
2022-21-11
Friday, 11 February 2022 11:21 AM
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