Economy Forecast for Second Half of 2024

Staffing Industry Analysts (06/14/24)

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.

This article originally appeared on staffingindustry.com. Use this link to see the full article: GDP GROWTH SEEN SLOWING IN SECOND HALF BUT LESS THAN PREVIOUS FORECAST