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The Economy

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journal contribution
posted on 2006-03-01, 00:00 authored by Allan MeltzerAllan Meltzer

The typical forecast for 1974 calls for GNP growth of about 7-1/4%. Inflation is expected to average between 4.7 and 5.2%, with a mean of 5%. i Real output is expected to grow between 1-1/2 and 2-3/4%, with a mean forecast rate of growth of 2-1/4%. These forecasts are the general or consensus forecasts that have been coming out of various forecasters models during the last several weeks




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