US GDP growth forecast dropped by 4% for Q3 – NABE
The Gross Domestic Product growth forecast in the United States (US) has dropped to 4% in the third quarter, according to an “Outlook” survey report by the National Association for Business Economics (NABE).
The latest figure is lower than the 6.2% growth forecast last May and the second quarter’s actual growth rate of 6.6%.
NABE President David Altig said that the survey panelists “have moderated their expectations about the prospects for economic growth” this year.
Altig added that the economic outlook in 2021 has “become more tempered” as the median GDP growth estimate for the whole year also decreased by 5.6% compared to the previous 6.7%.
However, job levels in the US are expected to return to their pre-Covid figures by the end of 2022, with 67% of respondents anticipating the boost of non-farm payrolls next year.
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