As the fourth quarter begins, most economy-watchers have lost any hope that 2010 will be a year of strong growth. Instead, analysts now are expecting that it may be several years before output expands at a consistent pace that is vigorous enough to make a sizeable dent in unemployment rates.
Economic forecasting is fraught with difficulties even one or two years ahead, so it is no surprise that there are varied perspectives on where the economy will be in the longer term, four or five years from now.
The table below compares longer term forecasts from three sources. One source is Blue Chip Economic Indicators, a leading newsletter that provides monthly consensus forecasts from 50 professional forecasters, largely representing private sector viewpoints. Figures in the table below were compiled by Executive Editor Randell Moore, and appear in the October issue, available here.
The Obama Administration forecasts are from the Office of Management and Budget. The Congressional Budget Office (CBO) forecasts are intended to support congressional decision-making.
To read the full, original article click on this link: Where Will the Economy Be in Five Years? - [email protected]. Carey
Author: Lee McPheters
