Bank of America revised their forecasts fo the US economy and now see slow growth ahead instead of a recession.
- “We revise our outlook for the US economy in favor of a soft landing, where growth falls below trend in 2024, but remains positive throughout our forecast horizon”
- “Recent incoming data has made us reassess our prior view that a mild recession in 2024 is the most likely outcome for the US economy"
- "Growth in economic activity over the past three quarters has averaged 2.3%, the unemployment rate has remained near all-time lows, and wage and price pressures are moving in the right direction, albeit gradually"
Forecasts U.S. GDP growth of
- 2% (Q4/Q4) for 2023
- 0.7% for 2024
- 1.8% for 2025
