The pace of recovery in output and employment looks a little slower now than three months ago, according to 43 forecasters surveyed by the Federal Reserve Bank of Philadelphia.
The panel expects real gross domestic product to grow at an annual rate of 2.2% this quarter, down from the previous estimate of 2.8%.
The forecasters see real GDP growing 2.7% in 2010, down from their prediction of 2.9% in the last survey. The forecasters predict real GDP will grow 2.5% in 2011, 2.9% in 2012, and 3.0% in 2013.
