GDP Growth
The Graph of the Week is the NABE Outlook Panel's forecast for GDP growth, from the November 2006 NABE Outlook. From the survey:
The expansion will continue through 2007, but at a pace that is below trend. Real GDP growth is projected to be at a 2.5% rate in the fourth quarter of 2006 and gradually ramp up to a 3% rate by the fourth quarter of 2007. On a fourth-quarter-over-fourth-quarter basis, real GDP growth in 2007 is expected to be 2.8%, the same as in the September survey. Consumer spending and nonresidential fixed investment are expected to be well-maintained, but residential investment is seen to be an even larger depressant on the overall economy in the near-term than was earlier thought.
NABE members can read more in the full NABE Outlook. There is a summary available for the public.