Bank of America no longer expect a US recession – upgrade their outlook to 'soft landing'

<p>Bank of America revised their forecasts fo the US economy and now see slow growth ahead instead of a recession. </p><ul><li>“We revise our outlook for the US economy in favor of a soft landing, where growth falls below trend in 2024, but remains positive throughout our forecast horizon”</li><li>“Recent incoming data has made us reassess our prior view that a mild recession in 2024 is the most likely outcome for the US economy" </li><li> "Growth in economic activity over the past three quarters has averaged 2.3%, the unemployment rate has remained near all-time lows, and wage and price pressures are moving in the right direction, albeit gradually"</li></ul><p>Forecasts U.S. GDP growth of </p><ul><li>2% (Q4/Q4) for 2023</li><li>0.7% for 2024</li><li>1.8% for 2025</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.