Economy

CBO Predicts Slower Economic Growth and Higher Unemployment into Next Year

Congressional Budget Office higher unemployment and lower GDP growth before recovering in 2024, due to lower inflation and interest rates.
Google LogoMark Us Preferred on Google
CBO Predicts Slower Economic Growth and Higher Unemployment into Next Year
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
Bryan Jung
|Updated:
0:00

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.

Google LogoMark Us Preferred on Google
Bryan Jung
Bryan Jung
Author
Bryan 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.
Related Topics