Foodservice Equipment Reports

Economists Expect Slow Growth For U.S. Economy For Years To Come

The latest consensus forecasts from 50 leading econometric forecasting organizations surveyed monthly by Blue Chip Economic Indicators outlines a U.S. economy plagued by sluggish real growth for years to come. And the short-term outlook for the next 18 months is particularly restrained.

The consensus forecast for growth of real gross domestic product in 2011 rose 0.1 point in the early October survey, but only because second quarter growth was revised upwards to 1.3% from the advance estimate of 1%. The group dropped its forecast for GDP growth in ’12 by 0.2 point to 2%. The consensus forecast has fallen half a point since July.

Forecasts for real disposable personal incomes and real consumer spending also were revised downward for both this year and next. DPI is predicted to rise only 1.6% in ’11, with personal consumption expenditures forecast at only a 1.9% real gain. The income and spending numbers are important indicators of foodservice spending growth.

The newsletter also released its biannual long-term forecasts. Real GDP, DPI and PCE growth are forecast to remain in the 2.5% to 2.9% range as far as the forecasting eye can see.

Related Articles

Expect Slow Growth Next Half Decade

Second Quarter 2013 State Tax Revenues Exceed 2008 Peak, But Growth Expected To Slow

Improving U.S. Economy Should Drive Moderate Foodservice Growth, Says Technomic