GDP growth was surprisingly strong in the third quarter of this year, at least if the 3.3% advance estimate is compared with the October Blue Chip consensus forecast of only 2%. Growth for the entire year still might meet the 3.4% consensus forecast if the third-quarter estimate is not revised and fourth-quarter growth is no less than about 3%. Forecasts of 1999 growth, however, apparently are not being marked up from the range of 2% or so.
Type: Economic Trends
Suggested citation: “Economic Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-11, pp. 08-09, 11.01.1998.