The economy grew 3.1% in the third quarter, according to the Commerce Department’s final estimates. Economists participating in December’s Blue Chip survey currently anticipate real growth of 2.7 % in the fourth quarter. Given November’s strong labor report, this estimate may be low. The Blue Chip forecasters predict that economic activity will slow in 1998 to a rate consistent with current estimates of the country’s long-term growth potential.
Suggested citation: “Economic Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-01, pp. 10-11, 01.01.1998.