Economists Expect Little Growth Next Year
How soft will the soft landing be?
Economists have turned much more optimistic about the economy in recent months. The average probability of a recession over the next 12 months assigned by the business and academic survey conducted each quarter by the Wall Street Journal slipped to 48 percent from 53 percent in the July survey and 61 percent in April.
Yet growth is not expected to be particularly robust. In fact, some economists expect less growth next year than they did in prior surveys, probably because they are no longer expecting the economy to be rebounding following the widely-expected 2023 recession that never materialized.
The median expected growth rate for 2024 fell to one percent, according to the Wall Street Journal survey, down from 1.3 percent in the prior survey. The average growth expectation is 0.98 percent, down…
