EconomyCBO Predicts Slower Economic Growth and Higher Unemployment into Next YearA little good news is that inflation is decliningCongressional Budget Office higher unemployment and lower GDP growth before recovering in 2024, due to lower inflation and interest rates.00CopyFacebookXTruthGettrLinkedInTelegramEmailSavePrintDetail 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 ImagesBryan Jung7/26/2023|Updated: 7/26/20230:00X 1The 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.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.Share this articleLeave a commentBryan JungAuthorBryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University. Author’s Selected ArticlesUS Homebuilder Sentiment Tanks Again Amid Spike in Mortgage Rates, Erasing Months of GainsSep 19, 2023Over 58,000 Pounds of Ground Beef Recalled Due to E.coli DiscoverySep 19, 2023RFK Jr. Calls for Banning Fracking to Tackle Plastics Pollution in WaterwaysSep 18, 2023New York Law Requiring Employers to Post Pay Rates on Job Listings Takes EffectSep 18, 2023Related TopicsFederal ReserveunemploymentinflationCongressional Budget OfficeU.S. GDP
