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Economic forecasters predict stronger growth ahead

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A survey of 36 economic forecasters by the Federal Reserve Bank of Philadelphia shows an increase in confidence about growth output in the coming years.

Forecasters predict real GDP will grow at an annual rate of 3.0 percent this quarter and 2.9 percent next quarter.

Looking further ahead, they predict real GDP growing 2.8 percent in 2018, 2.5 percent in 2019, and 2.0 percent in 2020. These estimates are higher than the estimates from three months ago.

The unemployment rate will average 4.0 percent in 2018, according to the survey.

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