TABLE-White House U.S. economic forecasts

(Calendar years; figures for GDP, GDP price index and CPI are year-over-year percent changes; unemployment and interest rate forecasts are annual averages). 2022 figures are actual. All figures are percent changes.

Following are White House economic forecasts from the Biden administration's fiscal 2024 budget proposals released on Thursday. (Calendar years; figures for GDP, GDP price index and CPI are year-over-year percent changes; unemployment and interest rate forecasts are annual averages).

2022 figures are actual. 2022 2023 2024 2025 2026 2027 2028 REAL GDP GROWTH 1.8 0.6 1.5 2.3 2.1 2.0 2.0 GDP PRICE INDEX 7.0 3.9 2.2 2.1 2.1 2.1 2.1 CPI 8.1 4.3 2.4 2.3 2.3 2.3 2.3 JOBLESS RATE 3.7 4.3 4.6 4.4 4.3 4.2 4.1 3-MO T-BILL RATE 2.0 4.9 3.8 3.0 2.5 2.3 2.2 10-YR TSY NOTE 3.0 3.9 3.6 3.5 3.4 3.4 3.4 For comparison, Congressional Budget Office economic forecasts released Feb. 15, 2023:

2022 2023 2024 2026-2027 2028-2033 REAL GDP 2.1 0.3 1.8 2.4 1.8 GDP PRICE INDEX 7.0 3.7 2.5 2.0 2.0 PCE PRICE INDEX 6.2 3.8 2.7 2.1 2.0 CORE PCE PRICE INDEX 5.0 3.9 2.9 2.2 2.0 CPI 8.0 4.8 3.0 2.1 2.3 CORE CPI 6.1 4.9 3.3 2.2 2.3 JOBLESS RATE 3.6 4.7 4.9 4.5 4.5 3-MO T-BILL RATE 2.0 4.5 3.2 2.2 2.3 10-YR TSY NOTE 3.0 3.9 3.8 3.8 3.8 Note: The CBO's Real GDP and price indexes are year-over-year percent changes; the jobless rate and interest rate forecasts are annual averages. All figures are percent changes.

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