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real GDP projections from the Congressional Budget Office

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Compare and contrast at least two different 18-month forecasts for Gross Domestic Product (United States) and graph them. Include a reconciliation of the differences between the forecasts for GDP and a rationalization for which forecast you believe is most accurate. Defend your opinion.

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Solution Preview

Please find attached a sheet describing real GDP projections from the Congressional Budget Office (CBO), the administration, and the World Bank. According to the data the administration believes the GDP in the year 2009 is going to go down by just -1.2% while the CBO and the World Bank are both of the view that it will go down by about 3%. For the year 2010 (that is in the 18 month horizon), the CBO and the administration are both hopeful of a quick recovery and expect the real GDP to grow by about 3%, while the World Bank is more conservative and puts the number to 1.8%.

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Solution Summary

Real GDP projections from the Congressional Budget Office are presented in this posting. The explanation is given in 436 words.

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