Recession Fears Fade as Economists Foresee Steady Growth
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Economists believe the risk of recession in 2024 is declining and see steady, if slowing, growth instead.
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The consensus forecast sees GDP growth of 2.4% in 2023 and 1.7% in 2024.
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Unemployment is expected to tick up slightly from 3.7% in 2023 to 4% in 2026.
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Inflation will come down gradually, hitting the Fed's 2% target in 2024.
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While risks remain, economists see the chances of negative growth highest in Q1 2024 at 40.9%, followed by Q2 and Q3.