Forecasts And Nowcasts
CBO has released its Budget and Economic Outlook, with projections for GDP (based on data from early December). This is their GDP projection based on current law, compared to other forecasts (IMF, WSJ survey mean), and today’s GDPNow.
Figure 1: GDP as reported (bold black), CBO (blue), WSJ (brown), IMF (light green triangles), GDPNow (2/7/2024) (sky blue square), all in bn.Ch.2017$ SAAR, on log scale. Source: BEA, CBO (February),WSJ (January), IMF (January), and Atlanta Fed (2/7), and author’s calculations.
Note that all the forecasts/projections were made or based on data before the release of 2023Q4 GDP figures.
Today’s GDPNow for Q1 reads 3.4$ q/q AR.
Video of briefing, here.
More By This Author:
Minutes Of Work Per Gallon Of Gasoline, January 2024: 6.2Once And For All: The “Recession” Of 2022H1
Debt Projections Pre- And Post- Tax Cuts And Jobs Act (Of 2017)
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
