Economists Boost US Growth, Spending Forecasts Into Early 2025 [BNN Bloomberg (Canada)]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
Company Research
Source: BNN Bloomberg
The slight upward adjustments in gross domestic product from the third quarter of 2024 through the first quarter of 2025 indicate average growth of around 2% over the period, according to the latest Bloomberg monthly survey of economists. While the pace of economic growth in 2025 is projected to be slower relative to this year, forecasters trimmed their year-ahead recession odds to 25%. That's the lowest reading since March 2022, and suggests the Fed will be successful in containing inflation with limited damage to the economy. The US central bank's preferred price gauges are seen holding close to its 2% target, allowing officials to gradually ease monetary policy and help keep the labor market from deteriorating. Economists surveyed by Bloomberg expect monthly payroll growth to average 125,000 next year — down from a monthly average of 200,000 so far this year. They see the unemployment rate averaging 4.3%, up from 4.1% currently. “We still see the Fed lowering interest rates
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