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.SaveMark Us Preferred on GooglePrintDetail 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.
