Fed Survey: 'Economy Looks Weaker Now Than It Did Three Months Ago'

by Allbiz - PWCM - JLA Posted 2012/08/12 15:35:26

Related Topics: Unemployment, Federal Reserve, Bank, Expectations, United States, Philadelphia, Economy, Friday, Survey, Oldest, Professional, U.s. Economy, Economic, Employment, 2012, Percent

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On Friday, the Federal Reserve Bank of Philadelphia released its "Third Quarter Survey of Professional Forecasters" report which found that the "U.S. economy looks weaker now than it did three months ago."

Specifically, the survey of 48 economic forecasters lowered real GDP expectations this quarter from 2.5 percent down to 1.6 percent, lowered monthly non-farm payroll employment from 135,000 to 125,000, and said they expect 2012 unemployment to be at 8.2 percent.

Begun in 1968, the Survey of Professional Forecasters is the oldest survey of macroeconomic forecasts in the United States.

ed 2012/08/12 17:59:17

+1
Now how can this be according to the liberals we are in better shape now than we ever have been in a long time.

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Mr. T 2012/08/12 15:56:02

+1
And 100 times weaker than it was almost four-years ago. Thanks for nothing Onumbnuts.

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CUDDLY BUT STILL CRABBY 2012/08/12 15:47:20

+2
Didn't Obama say recently that the private sector is doing just fine?

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Kane Fernau 2012/08/12 15:45:57

+1
Obamanomics is working

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beachbum 2012/08/12 15:39:57

+2
Yep, that recession is over............

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Aurora 2012/08/12 15:38:19

+2
Sad.

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rocat 2012/08/12 15:37:46

+2
well...
they should know-
as they designed it-

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