Congressional Budget Office V. CBO's Economic Projections for Calendar Years 2008 to 2018

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CBO's Economic Projections for Calendar Years 2008 to 2018 [i] (September 2008)

handle is hein.congrec/cbo8523 and id is 1 raw text is: September 2008

CBO's Economic Projections for Calendar Ycars 2008 to 2018

Actual Forecast
2007a 2008 2009

Projected Annual Average
2010-2013 2014-2018

13,808
4.8
2.0
2.7
2.6
2.2
2.9
2.3
4.6
4.4
4.6
1,642
6,362
11.9
46.1

Nominal GDP (Billions of dollars)
Nominal GDP
Real GDP
GDP Price Index
PCE Price IndeXd
Core PCE Price Index'
Consumer Price Indexf
Core Consumer Price Index'
Unemployment Rate
Three-Month Treasury Bill Rate
Ten-Year Treasury Note Rate
Tax Bases (Billions of dollars)
Economic profits
Wages and salaries
Tax Bases (Percentage of GDP)
Economic profits
Wages and salaries
Nominal GDP
Real GDP
GDP Price Index
PCE Price Index d
Core PCE Price Index'
Consumer Price Indexf
Core Consumer Price Indexg

4.9
2.3
2.6
3.5
2.2
4.0
2.3

14,3
3
1
2
3
2
4
2

Year to Year (Percentage change)
34 14,873 18,23 1b
.8 3.8 5.2
.5 1.1 3.3

.3
.9
.3
.7
.4

2.6
3.1
2.3
3.1
2.4

1.9
1.9
1.9
2.2
2.2

Calendar Year Average (Percent)
5.4 6.2 5.3
1.9 2.7 4.6
3.9 4.4 5.3

1,605
6,616
11.2
46.2

1,586
6,882
10.7
46.3

1,995b
8,376b
10.8
46.1

22,470
4.3
2.4
1.9
1.9
1.9
2.2
2.2
4.8
4.7
5.4
2,505
10,238
11.1
45.7

Fourth Quarter to Fourth Quarter (Percentage change)
3.5 4.2 5.2
0.9 1.8 3.3
2.5 2.4 1.8
4.0 2.5 1.9
2.3 2.2 1.9
4.9 2.2 2.2
2.4 2.3 2.2

Sources: Congressional Budget Office; Department of Commerce, Bureau of Economic Analysis; Department of Labor, Bureau of Labor
Statistics; Federal Reserve Board.
Notes: GDP = gross domestic product.
Economic projections for each year from 2008 to 2018 appear in Appendix C.
a. Values as of August 22, 2008.
b. Level in 2013.
c. Level in 2018.
d. The personal consumption expenditure chained price index.
e. The personal consumption expenditure chained price index excluding prices for food and energy.
f. The consumer price index for all urban consumers.
g. The consumer price index for all urban consumers excluding prices for food and energy.

4.3
2.3
1.9
1.9
1.9
2.2
2.2