Phil Fed's Survey of Professional Forecasters

The Federal Reserve Bank of Philadelphia has published its Fourth Quarter 2004 Survey of Professional Forecasters. Growth over the next five quarters looks slower now than it did three months ago, according to 34 forecasters surveyed by the Federal Reserve Bank of Philadelphia.

In the current quarter, the forecasters expect real GDP to grow at an annual rate of 3.7 percent, a downward revision from their estimate of 4.0 percent in the last survey. The forecasters see year-over-year growth of 4.4

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