Economists raise U.S. economic growth forecasts for this year and next, but warn that job growth will remain weak
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According to a survey by the National Association for Business Economics (NABE), economists have raised their forecasts for U.S. economic growth for this year and next, expecting GDP growth of 1.8% this year, up from 1.3% in June. However, job growth is expected to be weak, averaging only 60,000 per month, down from the previous estimate of 87,000. The Federal Reserve is expected to cut interest rates by another 25 basis points and reduce rates by 75 basis points in 2026. The inflation rate is expected to remain above the 2% target before next year, but the PCE price index increase will drop from 3% to 2.5%
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