Chicago Fed: Solid Economic Outlook

June 28th, 2012
in econ_news

Econintersect:  The August Chicago Fed Letter is forecasting solid moderate GDP growth for 2012 and 2013.  The key elements in supporting the forecast economic-optimists-clubSMALLwith-clickare improved personal consumption expenditures (50% improvement in the rate of growth over 2011), double digit year-over-year growth in residential investment in each the two years compared to 2011 and solid growth in new cars and light truck sales (reaching 15 million in 2013, up from 12.7 million for 2011).  Other factors in the forecast include oil (West Texas Intermediate) averaging $103-$104 for 2012 and 2013, a slowing of the decline in government consumption (-2.8% in 2011 reaching -0.7% in 2013), slowing of the growth rate for industrial production (4.0% in 2011 down to 2.4% in 2013) and rising interest rates (10-year treasury 2.52% by the end of 2013, compared to the 1.6% area recently).

Follow up:

Here is a summary of the Chicago Fed numbers:

economic-forecast-chicago-Fed-June-2012

Econintersect reports the following reliability check:  Last year at this time the Chicago Fed forecast GDP growth for 2011 would come in at 2.6%.  This was considerably higher than the 1.6% actual.

John Lounsbury

Source:









Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.















 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved