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.   

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

RELATED CONTENT

Chicago Closes Indoor Dining, Toronto Extends Outdoor Season

Two major North American cities are finding that outdoor dining may be here for a while.

Read More...

No-Deal Brexit Would Be ‘Disastrous’ Say UK Manufacturers

Foodservice Equipment Association co-signs letter demanding governments work out an agreement,

Read More...

Germany’s Blanco Professional Welcome New CEO and Sales Lead

The company also will bring in a new sales director for its catering unit.

Read More...