The U.S. economy should continue to improve, with real growth in gross domestic product expected to be 2.3% this year and 2.6% next year, according to a Federal Reserve Bank of Chicago symposium consensus opinion.
Unemployment, according to the median prediction, should fall to 7.9% this year and 7.6% next year.
Real personal consumption expenditures are seen at 2.5% the both years.
Inflation, as measured by the consumer price index, is seen at 2.1% this year and next, according to the survey.
The consensus outlook was provided by 25 participants — including those from manufacturing, banking, academia, and consulting and service firms — in the bank’s annual Automotive Outlook Symposium.