Economic growth should be stronger than expected for the next three quarters but should slow down toward year-end, with 2.7% average annual growth for the next five quarters, according to 42 professional forecasters surveyed by the Federal Reserve Bank of Philadelphia.

The forecasters see 3.0% growth this year, better than the 2.4% projected earlier, with 2.9% gross domestic product growth in 2011, 3.4% in 2012, and 3.1% in 2013. It also offers good news on jobs, with projections of 9.8% unemployment this year, 9.2% next year, 8.3% in 2012, and 7.3% in 2013. Inflation projections are near those in the prior survey.

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