Phil Fed's Survey of Professional Forecasters

The Federal Reserve Bank of Philadelphia published its First Quarter 2005 Survey of Professional Forecasters on 13 February. The U.S. economy will grow strongly in the first quarter, following unexpectedly slow growth in last year's fourth quarter, according to 53 forecasters surveyed.

The forecasters now project first-quarter growth at an annual rate of 4.4 percent, marking an upward revision from their previous estimate of 3.7 percent in the survey of three months ago. Second-quarter growth is

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