The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the Third Quarter 2003. The U.S.economy will likely expand at a slower pace in 2003 than predicted just three months ago, according to the survey. The pace of economic growth is expected to increase over the next two years, according to 30 forecasters surveyed. The Survey of Professional Forecasters also predicts unemployment will gradually decline over the long run.

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