Foodservice Equipment Reports

Most Blue Chip General Economic Forecasts Rise

Much stronger than expected third-quarter growth in U.S. gross domestic product and better than expected consumer spending helped lift most 2014 forecasts of the macroeconomic indicators that drive foodservice, according to the latest survey from Blue Chip Economic Indicators.

The Blue Chip consensus forecast for 2014 real GDP jumped to 2.8% in the survey conducted Jan. 6 and 7, up from 2.5% in the December survey. The forecast for ’14 real disposable personal income notched down 0.1 point to 2.6%, but that remains nearly 2 points above ’13’s meager 0.8% gain. Personal consumption expenditures are expected to grow 2.6% in real terms. That’s up from 2.4% in last month’s survey.

The forecast for inflation remains very low. The Consumer Price Index is expected to rise only 1.6% in 2014; it rose only 1.5% in ’13.

In the Blue Chip’s first go at 2015 forecasts, the consensus forecasts a real GDP gain of 3% and real DPI and PCE increases of 2.8% each.   

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