CBO Predicts Slower Economic Growth and Higher Unemployment into Next Year

A little good news is that inflation is declining

Detail images from the Congressional Budget Office's report, “An Update to the Budget Outlook: 2023 to 2033,” in Washington, D.C., on May 12, 2023. Chip Somodevilla/Getty Images

The Congressional Budget Office (CBO), in its recently revised report, predicted slower U.S. economic growth and higher unemployment into next year.

The nonpartisan budget agency said on July 26 that economic and job growth in 2024 has so far been stronger than forecasted in February.