Connect with us

Hi, what are you looking for?

Economy

American economists in the US are expecting brutal economic growth and soaring inflation

American economists in the US are expecting brutal economic growth and soaring inflation

According to the latest survey released by the American Association of National Business Economists (NABE) on Monday This year, the GDP of the United States will grow 6.5%. There had been no such expansion since 1984, and the US economy emerged from a deep recession even then.

Poll respondents expected more modest economic growth of 4.8 percent this year in March. According to unfinished data, the US economy grew at an annual rate of 6.4 percent in the first quarter of this year. Revised data will be released on Thursday, and experts say it will be related to stronger growth.

NABE survey respondents expect an annual economic growth rate of 8.5 percent for the second quarter, after a smaller expansion of 5.2 percent in the previous March survey.

He was asked about another topic, according to economists Consumer prices will rise 2.8 percent this year and 2.3 percent next year, up from 1.2 percent last year.

A week and a half ago, the Labor Department announced that consumer prices rose 4.2 percent in April, the biggest rise since September 2008, after booming demand in the emerging economy affected supply constraints. A month ago, in March, another annual increase in consumer prices of 2.6 percent was measured.

About two-thirds of economists now believe employment levels will reach pre-pandemic levels by the end of this year or early next year, with an unemployment rate of 5.6 percent this year and 4.3 percent next year. In April of this year, the unemployment rate was 6.1 percent in the United States.

See also  OpenAI has embarked on a dangerous path: the team that was to oversee machines smarter than humans has been disbanded

Cover image source: Getty Images.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

Top News

Given the differences in styles with next-generation consoles, the so-called “console war” between Sony and Microsoft is arguably moot. Most console players, however, will...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Copyright © 2024 Campus Lately.