Economists decline the increased rate prognosis of the US economy

Some reputable economists have said they plan to reduce the growth rate prognosis for US GDP. The reason for this announcement was the refusal of Senator Joe Manchin to aid the bill, which provided for the assignment of funds in the amount of $1.75 trillion from the budget. He clarified that the approval of this plan will guide to a significant increase in the state budget deficit, as well as to further inflation growing. Since Joe Manchin’s vote was decisive, the bill was not passed. Economists at ING lowered their prognosis for US fiscal growth in 2022 by 1 percentage point to 3.5%. Oxford Economics’ outlook was also revised downward. Now its economists are looking for 3.7% growth in US GDP next year. The growth rate of 4.4% was beforehand forecasted. Goldman Sachs lowered its prognosis for the first three quarters of 2022. The forecast for the GDP growth rate in the 1st quarter was reduced by 1 proportion point to 2%. The forecasts for US economic growth in the 2nd and 3rd quarters were reduced by 0.25 and 0.5 percentage points to 3% and 2.75%, respectively.

author

About author

Arseny Kudrin

Publicist, trader

Read previous post
← Bitcoin miners earned over $15 billion in 2021
Read next post
USA: Imports from China's Xinjiang Province baned →
Get the best solution for your forex company. Please, submit the form below and we will get back to you within 24 – 48 hours.