from the Philadelphia Fed
The 29 participants in the December Livingston Survey predict fairly steady output growth through the end of 2015. The forecasters, who are surveyed by the Federal Reserve Bank of Philadelphia twice a year, project that the economy’s output (real GDP) will grow at an annual rate of 3.1 percent for the second half of 2014. They predict that the growth rate of economic output will be 2.9 percent (annual rate) in the first half of 2015 and 2.7 percent (annual rate) in the second half of 2015. The current projection for growth in the second half of 2014 is 0.1 percentage point higher than the projection from the survey of six months ago, while the forecast for the first half of 2015 is unchanged.