The US economy performed better than expected in the first half of 2024, with real GDP growing at an annual rate of 2%, according to the Philadelphia Federal Reserve’s June Livingston Survey. However, economists predict slower growth in the second half, with an annual rate of 1.7%, still an improvement from previous forecasts. The unemployment rate is also expected to be lower than earlier projections, at 3.9% this month and 4% in December. Inflation, as measured by the consumer price index, is anticipated to average 3.2% this year, higher than previous estimates. The Livingston Survey, the oldest continuous survey of economists, included responses from 23 economists.