Macro - Country Economic Forecasts - United States
Recent stress in the banking system and tighter lending standards will result in a more severe, but still mild, recession in H2 2023 than we previously anticipated. Though banking stress has eased, the economic costs will be incurred with a lag, and we expect the largest decline in GDP to occur in H2 after weak growth in Q2. Our business cycle indicator shows the economy lost momentum in February and is close to turning negative. We maintain our GDP growth forecast for the US at 0.9% in 2023 and have cut the outlook for 2024 by 0.2ppts to 0.4%.
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook