An Update To The Economic Outlook 2018 2028

This report presents the agency’s latest economic forecast, which includes the following key projections of real (inflation-adjusted) gross domestic product (GDP) and other factors: In 2018, real GDP is projected to grow by 3.1 percent. Growth of actual output is expected to outpace the growth of its maximum sustainable amount through the rest of 2018 and 2019, creating excess demand in the economy. Excess demand will put upward pressure on prices, wages, and interest rates over the next few years. From 2023 to 2028, real GDP is projected to grow by about 1.7 percent each year.