Chicago Fed Survey Sees US GDP Growth At 3% In '11, 9.2% Jobless Rate
The U.S. economy will grow 3% next year, but there won't be much improvement in the still very high unemployment rate, according to the annual economic forecast compiled by the Federal Reserve Bank of Chicago.
Chicago - The U.S. economy will grow 3% next year, but there won't be much improvement in the still very high unemployment rate, according to the annual economic forecast compiled by the Federal Reserve Bank of Chicago.
The Chicago Fed polled 30 economists at its outlook symposium last week, including forecasters from General Motors Co. (GM), Caterpillar Inc. (CAT) and ArcelorMittal (MT, MT.AE).
Based on the median forecast, the survey predicted real gross domestic product - measuring all goods and services produced in the U.S. - will increase 3% in 2011, from expectations for 2.4% growth this year.
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