Economists Predict Lackluster 4Q22 Growth; Fed Algorithm Predicts 4.3%

Published Friday, November 25, 2022 at: 7:54 PM EST

A Federal Reserve Bank of Atlanta algorithm indicates the economy is experiencing spectacular growth this quarter, while a survey of leading economists indicates the economy currently is growing at a fractional pace.  Consensus forecasts of economists are far from perfect but have been more reliable than the GDPNow algorithm at predicting the quarterly growth rate of U.S. gross domestic product for years. In fact, the GDPNow forecast has been wildly wrong at times over the years. For the last two quarters, however, a period marked by high volatility, the algorithm has been more accurate in predicting growth real-time.  The Fed’s GDPNow forecast...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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