BofA Global Research raises 2023 US GDP growth forecast on ‘soft landing’ expectation

(Reuters) – BofA Global Research on Wednesday raised its 2023 economic growth outlook for the United States, saying incoming data signaled a “soft landing”.

BofA now expects real gross domestic product growing 2.0% on average this year, up from a previous forecast of 1.5%.

Data last week showed the U.S. economy grew faster than expected in the second quarter as a resilient labor market supported consumer spending, while businesses boosted investment in equipment and built more factories.

Source link