A recent economic survey showed that analysts ‘ forecasts for the growth of the US economy over the coming year have risen, with a smaller rise in the unemployment rate, which supports expectations that the US Federal Reserve (central bank) will keep interest rates high for a longer period than previous estimates.
The Bloomberg News Agency reported that the analysts surveyed expect the US economy to grow at an annual rate of 1.8% during the third quarter of this year, which is 4 times the rate expected last July and was 0.5%. They also currently expect the economy to grow during the last quarter of last year, while previous forecasts indicated a contraction of the world’s largest economy.
While analysts now widely expect stronger economic growth, they expect consumer spending, which accounts for about two-thirds of U.S. gross domestic product, to continue to grow, with Americans continuing to spend at a good pace.
She pointed out that the survey was conducted during the period from August 11 to 16 and included 68 economic analysts.
Analysts also expect the US economy to grow by an average of 2% this year and then by 0.9% of GDP next year, which is more than analysts ‘ forecasts last month. Analysts also raised their forecasts for the growth of the global economy during the current year, which reinforces the optimistic forecasts of the IMF and the World Bank.
