Macro forecast, revision

By Staff -- Purchasing, 7/15/1999

Despite a downward revision to first-quarter GDP growth (from 4.5% to 4.1%), the Blue Chip economic consensus forecast for 1999 actually rose a tenth of a point in June to 3.9%. "That matches the stellar rate of expansion hit in 1997 and 1998. If achieved, it also would mark the strongest three-year period of real growth since 1984-1986," the report notes. For the latter quarters of 1999, the Blue Chip consensus puts annualized GDP growth rates at 3.1% in Q2, 2.9% in Q3, and 3.1% in Q4.

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