Quarterly GDP Change Forecast
The Graph of the Week shows the the forecast for GDP change at annual rate, from the February 2009 NABE Outlook. From the survey highlights:
The NABE panel is expecting the recession to continue through mid-year 2009, with large declines in real GDP during each of this year’s first two quarters. Cumulatively, the cyclical downturn will rival that of 1973-75. In the current downturn real GDP is predicted to decline 2.8%, slightly less than the 3.1% during the early ‘70s. This represents a significant markdown of the November forecast, when 60% of survey participants expected a decline of 1.5%, or less.
NABE members can read the full survey here. A summary is available for the public here.