Photo courtesy: Associated Press
WASHINGTON, D.C.– The latest forecast on how much the U.S. economy will grow this year has been cut by about half. The Congressional Budget Office has revised downward it’s GDP growth outlook, from 3.1% to 1.5%.
Robert Schroeder, with Marketwatch.com, says part of the reason for the lower projection is surprising weakness in the economy earlier this year.
According to Schroeder, one forecast does not mean a trend. He says the CBO is, “much more optimistic for next year and the year after.”