Phil Fed's Survey of Professional Forecasters

The Federal Reserve Bank of Philadelphia published its Second Quarter 2006 Survey of Professional Forecasters on 15 May. Stronger growth in real GDP this year will come at the expense of weaker growth next year, according to 53 forecasters surveyed.

The forecasters now see the U.S. economy growing 3.4 percent in 2006 (year-over-year basis), an upward revision of 0.2 percentage point over their previous estimate of 3.2 percent just three months ago. The upward revision to this year's growth is

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