Outlook Index / Forecast accountability Know who called it, and who missed. Every published projection from central banks, budget offices and bank research — traced to the sentence it came from, and tracked as it gets revised.
Latest revisions New York Fed 2.2599999999999998 → 2.33/ New York Fed 2.5099999999999998 → 2.6/ Cleveland Fed 2.44 → 2.50
Institutions 17
Figures 1789
Reports 104
Metrics 35
Revisions 932
Sourced 100%
Revision tape 932 derived 2026-09-19 New York Fed U.S. real GDP growth, 2026 Q3 2.2599999999999998 → 2.33 2026-09-19 New York Fed U.S. real GDP growth, 2026 Q4 2.5099999999999998 → 2.6 2026-09-17 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.44 → 2.50 2026-09-17 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.35 → 1.44 2026-09-16 Atlanta Fed U.S. real GDP growth, 2026 Q3 4.4 percent → 5.1 percent 2026-09-12 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.47 → 2.44 2026-09-12 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.24 → 1.35 2026-09-12 Cleveland Fed U.S. core CPI inflation, 2026 Q3 1.91 → 2.16 2026-09-11 Fannie Mae U.S. real GDP growth, 2026 Q4 2.2% → 2.1 2026-09-11 Fannie Mae U.S. unemployment rate, 2026 Q4 4.4% → 4.2 2026-09-11 Fannie Mae U.S. unemployment rate, 2026 full year 4.3 → 4.2 2026-09-11 Fannie Mae U.S. unemployment rate, 2027 full year 4.3 → 4.2 2026-09-11 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.51 → 2.47 2026-09-11 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.30 → 1.24 2026-09-11 Fannie Mae U.S. headline CPI inflation, 2026 Q4 3.3% → 3.4 2026-09-11 Fannie Mae U.S. nonfarm payroll growth, 2026 Q4 66K/mo → 65 2026-09-11 Fannie Mae U.S. nonfarm payroll growth, 2026 full year 0.5 → 0.9 2026-09-11 Fannie Mae U.S. nonfarm payroll growth, 2027 full year 0.5 → 0.8 2026-09-11 Fannie Mae Federal funds rate, 2026 Q4 3.6% → 4.0 2026-09-11 Fannie Mae Federal funds rate, 2026 full year 3.6 → 3.7 2026-09-11 Fannie Mae Federal funds rate, 2027 full year 3.6 → 4.1 2026-09-11 Fannie Mae U.S. 10-year Treasury yield, 2026 Q4 4.5% → 4.8 2026-09-11 Fannie Mae U.S. personal consumption growth, 2026 Q4 2.4% → 2.1 2026-09-10 Atlanta Fed U.S. real GDP growth, 2026 Q3 4.7 percent → 4.4 percent 2026-09-10 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.50 → 2.51 2026-09-10 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.29 → 1.30 2026-09-09 EIA U.S. real GDP growth, 2026 full year 2.0 → 2.1 2026-09-09 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.49 → 2.50 2026-09-09 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.27 → 1.29 2026-09-09 EIA Brent crude oil price, 2026 full year 87 → 91 2026-09-09 EIA Brent crude oil price, 2027 full year $69/b → 74 2026-09-09 EIA U.S. retail gasoline price, 2026 full year 3.78 → 3.84 2026-09-09 EIA U.S. retail gasoline price, 2027 full year 3.29 → 3.35 2026-09-09 EIA Henry Hub natural gas price, 2026 full year 3.44 → 3.43 2026-09-09 EIA Henry Hub natural gas price, 2027 full year 3.31 → 3.28 2026-09-05 New York Fed U.S. real GDP growth, 2026 Q3 2.2200000000000002 → 2.2599999999999998 2026-09-05 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.26 → 1.27 2026-09-04 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.48 → 2.49 2026-09-04 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.25 → 1.26 2026-09-03 Atlanta Fed U.S. real GDP growth, 2026 Q3 4.8 percent → 4.7 percent 2026-09-03 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.39 → 2.48 2026-09-03 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.10 → 1.25 2026-09-03 EIA West Texas Intermediate crude oil price, April 2027 68 → 76 2026-09-03 EIA West Texas Intermediate crude oil price, August 2027 64 → 66 2026-09-03 EIA West Texas Intermediate crude oil price, December 2026 72 → 84.5 2026-09-03 EIA West Texas Intermediate crude oil price, December 2027 60 → 58 2026-09-03 EIA West Texas Intermediate crude oil price, February 2027 70 → 81 2026-09-03 EIA West Texas Intermediate crude oil price, January 2027 71 → 83 2026-09-03 EIA West Texas Intermediate crude oil price, July 2027 65 → 68 2026-09-03 EIA West Texas Intermediate crude oil price, June 2027 66 → 70 2026-09-03 EIA West Texas Intermediate crude oil price, March 2027 69 → 79 2026-09-03 EIA West Texas Intermediate crude oil price, May 2027 67 → 73 2026-09-03 EIA West Texas Intermediate crude oil price, November 2026 74 → 86.5 2026-09-03 EIA West Texas Intermediate crude oil price, November 2027 61 → 60 2026-09-03 EIA West Texas Intermediate crude oil price, October 2026 76 → 87 2026-09-03 EIA West Texas Intermediate crude oil price, September 2026 81 → 88 2026-09-03 EIA West Texas Intermediate crude oil price, September 2027 63 → 64 2026-09-03 EIA Brent crude oil price, April 2027 72 → 80 2026-09-03 EIA Brent crude oil price, August 2027 68 → 70 2026-09-03 EIA Brent crude oil price, December 2026 76 → 89 2026-09-03 EIA Brent crude oil price, December 2027 64 → 62 2026-09-03 EIA Brent crude oil price, February 2027 74 → 85 2026-09-03 EIA Brent crude oil price, January 2027 75 → 87 2026-09-03 EIA Brent crude oil price, July 2027 69 → 72 2026-09-03 EIA Brent crude oil price, June 2027 70 → 74 2026-09-03 EIA Brent crude oil price, March 2027 73 → 83 2026-09-03 EIA Brent crude oil price, May 2027 71 → 77 2026-09-03 EIA Brent crude oil price, November 2026 78 → 91 2026-09-03 EIA Brent crude oil price, November 2027 65 → 64 2026-09-03 EIA Brent crude oil price, October 2026 80 → 92 2026-09-03 EIA Brent crude oil price, September 2026 85 → 93 2026-09-03 EIA Brent crude oil price, September 2027 67 → 68 2026-09-03 EIA U.S. retail gasoline price, April 2027 3.4539909999999998 → 3.5820189999999998 2026-09-03 EIA U.S. retail gasoline price, August 2027 3.301199 → 3.345939 2026-09-03 EIA U.S. retail gasoline price, December 2026 3.5394389999999998 → 3.67442 2026-09-03 EIA U.S. retail gasoline price, December 2027 2.911791 → 2.8738229999999998 2026-09-03 EIA U.S. retail gasoline price, February 2027 3.370654 → 3.4653740000000002 2026-09-03 EIA U.S. retail gasoline price, January 2027 3.4236430000000002 → 3.539282 2026-09-03 EIA U.S. retail gasoline price, July 2027 3.3677419999999998 → 3.433465 2026-09-03 EIA U.S. retail gasoline price, June 2027 3.4304260000000002 → 3.5126909999999998 2026-09-03 EIA U.S. retail gasoline price, March 2027 3.4350559999999999 → 3.5503719999999999 2026-09-03 EIA U.S. retail gasoline price, May 2027 3.45228 → 3.5630890000000002 2026-09-03 EIA U.S. retail gasoline price, November 2026 3.7259820000000001 → 4.0111319999999999 2026-09-03 EIA U.S. retail gasoline price, November 2027 3.0383049999999998 → 3.0215160000000001 2026-09-03 EIA U.S. retail gasoline price, October 2026 3.8982899999999998 → 4.1650489999999998 2026-09-03 EIA U.S. retail gasoline price, October 2027 3.1302099999999999 → 3.1341860000000001 2026-09-03 EIA U.S. retail gasoline price, September 2026 4.0297320000000001 → 4.0487029999999997 2026-09-03 EIA U.S. retail gasoline price, September 2027 3.197613 → 3.2217989999999999 2026-09-03 EIA Henry Hub natural gas price, April 2027 2.75589 → 2.72783 2026-09-03 EIA Henry Hub natural gas price, August 2027 3.2214719999999999 → 3.1895370000000001 2026-09-03 EIA Henry Hub natural gas price, December 2026 3.5469400000000002 → 3.51213 2026-09-03 EIA Henry Hub natural gas price, December 2027 4.0468469999999996 → 4.0056380000000003 2026-09-03 EIA Henry Hub natural gas price, February 2027 3.6928559999999999 → 3.6568700000000001 2026-09-03 EIA Henry Hub natural gas price, January 2027 4.0668980000000001 → 4.0278200000000002 2026-09-03 EIA Henry Hub natural gas price, July 2027 3.0865290000000001 → 3.0584850000000001 2026-09-03 EIA Henry Hub natural gas price, June 2027 2.8899859999999999 → 2.8618779999999999 2026-09-03 EIA Henry Hub natural gas price, March 2027 3.1042770000000002 → 3.0733100000000002 2026-09-03 EIA Henry Hub natural gas price, May 2027 2.7299709999999999 → 2.701835 2026-09-03 EIA Henry Hub natural gas price, November 2026 3.0068269999999999 → 3.0082900000000001 2026-09-03 EIA Henry Hub natural gas price, November 2027 3.5715690000000002 → 3.532038 2026-09-03 EIA Henry Hub natural gas price, October 2026 2.8725269999999998 → 2.86449 2026-09-03 EIA Henry Hub natural gas price, October 2027 3.283528 → 3.2452390000000002 2026-09-03 EIA Henry Hub natural gas price, September 2026 2.869615 → 2.8701300000000001 2026-09-03 EIA Henry Hub natural gas price, September 2027 3.2779859999999998 → 3.2401399999999998 2026-09-02 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.36 → 2.39 2026-09-02 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.05 → 1.10 2026-09-01 Atlanta Fed U.S. real GDP growth, 2026 Q3 4.6 percent → 4.8 percent 2026-09-01 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.37 → 2.36 2026-09-01 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.07 → 1.05 2026-08-29 New York Fed U.S. real GDP growth, 2026 Q3 2.27 → 2.2200000000000002 2026-08-29 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.34 → 2.37 2026-08-29 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.01 → 1.07 2026-08-28 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.35 → 2.34 2026-08-28 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.03 → 1.01 2026-08-26 Goldman Sachs U.S. real GDP growth, 2025 full year 2.5% → 1.7% 2026-08-26 Atlanta Fed U.S. real GDP growth, 2026 Q3 4.0 percent → 4.6 percent 2026-08-26 Cleveland Fed U.S. headline PCE inflation, 2026 Q3 2.58% → 2.35 2026-08-26 Cleveland Fed U.S. headline CPI inflation, 2026 Q3 1.48% → 1.03 2026-08-26 Cleveland Fed U.S. core CPI inflation, 2026 Q3 1.90% → 1.91 2026-08-26 Cleveland Fed U.S. core PCE inflation, 2026 Q3 3.18% → 3.00 2026-08-26 New York Fed U.S. one-year inflation expectation, 1 year ahead 3.5% → 3.6 percent 2026-08-18 Atlanta Fed U.S. real GDP growth, 2026 Q3 5.8 percent → 4.0 percent 2026-08-14 Philadelphia Fed U.S. real GDP growth, 2026 Q4 2.0 percent annualized growth → 2.3 percent 2026-08-14 Philadelphia Fed Probability of negative U.S. GDP growth, 2026 Q4 24.5% → 20.0 2026-08-11 EIA U.S. real GDP growth, 2026 full year 2.1 → 2.0 2026-08-11 EIA U.S. real GDP growth, 2027 full year 2.3 → 2.4 2026-08-11 EIA Brent crude oil price, 2026 Q3 $74/b in 3Q26 → around $85 per barrel (b) 2026-08-11 EIA Brent crude oil price, 2026 full year $82/bbl → 87 2026-08-11 EIA Brent crude oil price, 2027 full year $65/b in 2027 → $69/b 2026-08-11 EIA U.S. retail gasoline price, 2026 full year $3.64/gal → 3.78 2026-08-11 EIA U.S. retail gasoline price, 2027 full year less than $3.10/gal in 2027 → 3.29 2026-08-06 EIA West Texas Intermediate crude oil price, October 2026 $67/bbl → 76 2026-02-01 CBO U.S. real GDP growth, 2025 Q3 0.841 → 3.296 2026-02-01 CBO U.S. real GDP growth, 2025 Q4 2.009 → 1.225 2026-02-01 CBO U.S. real GDP growth, 2025 full year 1.739 → 2.02 2026-02-01 CBO U.S. real GDP growth, 2026 Q1 1.963 → 2.939 2026-02-01 CBO U.S. real GDP growth, 2026 Q2 2.459 → 1.987 2026-02-01 CBO U.S. real GDP growth, 2026 Q3 2.107 → 2.085 2026-02-01 CBO U.S. real GDP growth, 2026 Q4 2.117 → 1.901 2026-02-01 CBO U.S. real GDP growth, 2026 full year 2.034 → 2.364 2026-02-01 CBO U.S. real GDP growth, 2027 Q1 1.773 → 1.76 2026-02-01 CBO U.S. real GDP growth, 2027 Q2 1.85 → 1.784 2026-02-01 CBO U.S. real GDP growth, 2027 Q3 1.798 → 1.844 2026-02-01 CBO U.S. real GDP growth, 2027 Q4 1.713 → 1.834 2026-02-01 CBO U.S. real GDP growth, 2027 full year 1.935 → 1.861 2026-02-01 CBO U.S. real GDP growth, 2028 Q1 1.881 → 1.847 2026-02-01 CBO U.S. real GDP growth, 2028 Q2 1.735 → 1.777 2026-02-01 CBO U.S. real GDP growth, 2028 Q3 1.684 → 1.723 2026-02-01 CBO U.S. real GDP growth, 2028 Q4 1.72 → 1.741 2026-02-01 CBO U.S. real GDP growth, 2028 full year 1.775 → 1.805 2026-02-01 CBO U.S. unemployment rate, 2025 Q3 4.415 → 4.3 2026-02-01 CBO U.S. unemployment rate, 2025 Q4 4.467 → 4.532 2026-02-01 CBO U.S. unemployment rate, 2025 full year 4.287 → 4.274 2026-02-01 CBO U.S. unemployment rate, 2026 Q1 4.517 → 4.549 2026-02-01 CBO U.S. unemployment rate, 2026 Q2 4.478 → 4.558 2026-02-01 CBO U.S. unemployment rate, 2026 Q3 4.349 → 4.56 2026-02-01 CBO U.S. unemployment rate, 2026 Q4 4.225 → 4.557 2026-02-01 CBO U.S. unemployment rate, 2026 full year 4.392 → 4.556 2026-02-01 CBO U.S. unemployment rate, 2027 Q1 4.256 → 4.55 2026-02-01 CBO U.S. unemployment rate, 2027 Q2 4.325 → 4.541 2026-02-01 CBO U.S. unemployment rate, 2027 Q3 4.394 → 4.53 2026-02-01 CBO U.S. unemployment rate, 2027 Q4 4.426 → 4.519 2026-02-01 CBO U.S. unemployment rate, 2027 full year 4.35 → 4.535 2026-02-01 CBO U.S. unemployment rate, 2028 Q1 4.426 → 4.507 2026-02-01 CBO U.S. unemployment rate, 2028 Q2 4.426 → 4.49 2026-02-01 CBO U.S. unemployment rate, 2028 Q3 4.426 → 4.469 2026-02-01 CBO U.S. unemployment rate, 2028 Q4 4.425 → 4.446 2026-02-01 CBO U.S. unemployment rate, 2028 full year 4.426 → 4.478 2026-02-01 CBO U.S. headline PCE inflation, 2025 full year 2.74 → 2.62 2026-02-01 CBO U.S. headline PCE inflation, 2026 full year 2.725 → 2.748 2026-02-01 CBO U.S. headline PCE inflation, 2027 full year 2.088 → 2.409 2026-02-01 CBO U.S. headline PCE inflation, 2028 full year 1.995 → 2.19 2026-02-01 CBO U.S. headline CPI inflation, 2025 full year 2.827 → 2.767 2026-02-01 CBO U.S. headline CPI inflation, 2026 full year 2.744 → 2.924 2026-02-01 CBO U.S. headline CPI inflation, 2027 full year 2.249 → 2.547 2026-02-01 CBO U.S. headline CPI inflation, 2028 full year 2.213 → 2.361 2026-02-01 CBO U.S. core CPI inflation, 2025 full year 3.064 → 3.008 2026-02-01 CBO U.S. core CPI inflation, 2026 full year 3.051 → 3.135 2026-02-01 CBO U.S. core CPI inflation, 2027 full year 2.377 → 2.576 2026-02-01 CBO U.S. core CPI inflation, 2028 full year 2.256 → 2.357 2026-02-01 CBO U.S. core PCE inflation, 2025 full year 2.973 → 2.825 2026-02-01 CBO U.S. core PCE inflation, 2026 full year 2.981 → 2.879 2026-02-01 CBO U.S. core PCE inflation, 2027 full year 2.217 → 2.444 2026-02-01 CBO U.S. core PCE inflation, 2028 full year 2.059 → 2.21 2026-02-01 CBO Federal funds rate, 2025 Q3 4.33 → 4.293 2026-02-01 CBO Federal funds rate, 2025 Q4 3.996 → 3.869 2026-02-01 CBO Federal funds rate, 2025 full year 4.246 → 4.205 2026-02-01 CBO Federal funds rate, 2026 Q1 3.663 → 3.639 2026-02-01 CBO Federal funds rate, 2026 Q2 3.58 → 3.389 2026-02-01 CBO Federal funds rate, 2026 Q3 3.58 → 3.389 2026-02-01 CBO Federal funds rate, 2026 Q4 3.58 → 3.389 2026-02-01 CBO Federal funds rate, 2026 full year 3.6 → 3.452 2026-02-01 CBO Federal funds rate, 2027 Q1 3.413 → 3.389 2026-02-01 CBO Federal funds rate, 2027 Q2 3.33 → 3.389 2026-02-01 CBO Federal funds rate, 2027 Q3 3.33 → 3.389 2026-02-01 CBO Federal funds rate, 2027 Q4 3.33 → 3.39 2026-02-01 CBO Federal funds rate, 2027 full year 3.35 → 3.389 2026-02-01 CBO Federal funds rate, 2028 Q1 3.33 → 3.39 2026-02-01 CBO Federal funds rate, 2028 Q2 3.33 → 3.39 2026-02-01 CBO Federal funds rate, 2028 Q3 3.33 → 3.39 2026-02-01 CBO Federal funds rate, 2028 Q4 3.33 → 3.39 2026-02-01 CBO Federal funds rate, 2028 full year 3.33 → 3.39 2026-02-01 CBO U.S. 10-year Treasury yield, 2025 Q3 4.282 → 4.256 2026-02-01 CBO U.S. 10-year Treasury yield, 2025 Q4 4.28 → 4.082 2026-02-01 CBO U.S. 10-year Treasury yield, 2025 full year 4.344 → 4.288 2026-02-01 CBO U.S. 10-year Treasury yield, 2026 Q1 4.24 → 4.059 2026-02-01 CBO U.S. 10-year Treasury yield, 2026 Q2 4.216 → 4.093 2026-02-01 CBO U.S. 10-year Treasury yield, 2026 Q3 4.177 → 4.156 2026-02-01 CBO U.S. 10-year Treasury yield, 2026 Q4 4.132 → 4.197 2026-02-01 CBO U.S. 10-year Treasury yield, 2026 full year 4.191 → 4.127 2026-02-01 CBO U.S. 10-year Treasury yield, 2027 Q1 4.087 → 4.226 2026-02-01 CBO U.S. 10-year Treasury yield, 2027 Q2 4.049 → 4.248 2026-02-01 CBO U.S. 10-year Treasury yield, 2027 Q3 4.015 → 4.265 2026-02-01 CBO U.S. 10-year Treasury yield, 2027 Q4 3.985 → 4.279 2026-02-01 CBO U.S. 10-year Treasury yield, 2027 full year 4.034 → 4.254 2026-02-01 CBO U.S. 10-year Treasury yield, 2028 Q1 3.957 → 4.29 2026-02-01 CBO U.S. 10-year Treasury yield, 2028 Q2 3.932 → 4.3 2026-02-01 CBO U.S. 10-year Treasury yield, 2028 Q3 3.91 → 4.308 2026-02-01 CBO U.S. 10-year Treasury yield, 2028 Q4 3.89 → 4.315 2026-02-01 CBO U.S. 10-year Treasury yield, 2028 full year 3.922 → 4.303 2026-02-01 CBO U.S. personal consumption growth, 2025 Q3 1.254 → 2.975 2026-02-01 CBO U.S. personal consumption growth, 2025 Q4 0.684 → 1.298 2026-02-01 CBO U.S. personal consumption growth, 2025 full year 1.989 → 2.524 2026-02-01 CBO U.S. personal consumption growth, 2026 Q1 1.244 → 1.391 2026-02-01 CBO U.S. personal consumption growth, 2026 Q2 2.041 → 2.261 2026-02-01 CBO U.S. personal consumption growth, 2026 Q3 1.855 → 1.928 2026-02-01 CBO U.S. personal consumption growth, 2026 Q4 1.57 → 1.794 2026-02-01 CBO U.S. personal consumption growth, 2026 full year 1.407 → 1.892 2026-02-01 CBO U.S. personal consumption growth, 2027 Q1 1.512 → 1.523 2026-02-01 CBO U.S. personal consumption growth, 2027 Q3 1.393 → 1.614 2026-02-01 CBO U.S. personal consumption growth, 2027 Q4 1.476 → 1.582 2026-02-01 CBO U.S. personal consumption growth, 2027 full year 1.56 → 1.662 2026-02-01 CBO U.S. personal consumption growth, 2028 Q1 1.797 → 1.712 2026-02-01 CBO U.S. personal consumption growth, 2028 Q2 1.541 → 1.607 2026-02-01 CBO U.S. personal consumption growth, 2028 Q3 1.543 → 1.602 2026-02-01 CBO U.S. personal consumption growth, 2028 Q4 1.341 → 1.566 2026-02-01 CBO U.S. personal consumption growth, 2028 full year 1.553 → 1.613 2026-02-01 CBO U.S. business fixed investment growth, 2025 Q3 1.963 → 3.179 2026-02-01 CBO U.S. business fixed investment growth, 2025 Q4 0.838 → 2.228 2026-02-01 CBO U.S. business fixed investment growth, 2025 full year 4.043 → 4.09 2026-02-01 CBO U.S. business fixed investment growth, 2026 Q1 3.4 → 3.332 2026-02-01 CBO U.S. business fixed investment growth, 2026 Q2 3.465 → 3.815 2026-02-01 CBO U.S. business fixed investment growth, 2026 Q3 3.435 → 4.156 2026-02-01 CBO U.S. business fixed investment growth, 2026 Q4 3.409 → 4.15 2026-02-01 CBO U.S. business fixed investment growth, 2026 full year 2.895 → 3.592 2026-02-01 CBO U.S. business fixed investment growth, 2027 Q1 3.289 → 3.714 2026-02-01 CBO U.S. business fixed investment growth, 2027 Q2 2.889 → 3.405 2026-02-01 CBO U.S. business fixed investment growth, 2027 Q3 2.773 → 3.277 2026-02-01 CBO U.S. business fixed investment growth, 2027 Q4 2.333 → 3.295 2026-02-01 CBO U.S. business fixed investment growth, 2027 full year 3.139 → 3.716 2026-02-01 CBO U.S. business fixed investment growth, 2028 Q1 1.846 → 3.021 2026-02-01 CBO U.S. business fixed investment growth, 2028 Q2 1.611 → 2.672 2026-02-01 CBO U.S. business fixed investment growth, 2028 Q3 1.52 → 2.527 2026-02-01 CBO U.S. business fixed investment growth, 2028 Q4 1.507 → 2.553 2026-02-01 CBO U.S. business fixed investment growth, 2028 full year 2.009 → 2.97 2026-02-01 CBO West Texas Intermediate crude oil price, 2025 Q3 68.5 → 65.74 2026-02-01 CBO West Texas Intermediate crude oil price, 2025 Q4 68.25 → 60.33 2026-02-01 CBO West Texas Intermediate crude oil price, 2025 full year 68.59 → 65.63 2026-02-01 CBO West Texas Intermediate crude oil price, 2026 Q1 68.07 → 58.7 2026-02-01 CBO West Texas Intermediate crude oil price, 2026 Q2 67.92 → 58.71 2026-02-01 CBO West Texas Intermediate crude oil price, 2026 Q3 67.83 → 59.05 2026-02-01 CBO West Texas Intermediate crude oil price, 2026 Q4 67.79 → 59.28 2026-02-01 CBO West Texas Intermediate crude oil price, 2026 full year 67.9 → 58.93 2026-02-01 CBO West Texas Intermediate crude oil price, 2027 Q1 67.79 → 59.66 2026-02-01 CBO West Texas Intermediate crude oil price, 2027 Q2 67.83 → 60.12 2026-02-01 CBO West Texas Intermediate crude oil price, 2027 Q3 67.93 → 60.68 2026-02-01 CBO West Texas Intermediate crude oil price, 2027 Q4 68.06 → 61.28 2026-02-01 CBO West Texas Intermediate crude oil price, 2027 full year 67.9 → 60.44 2026-02-01 CBO West Texas Intermediate crude oil price, 2028 Q1 68.24 → 61.91 2026-02-01 CBO West Texas Intermediate crude oil price, 2028 Q2 68.46 → 62.55 2026-02-01 CBO West Texas Intermediate crude oil price, 2028 Q3 68.7 → 63.19 2026-02-01 CBO West Texas Intermediate crude oil price, 2028 Q4 68.96 → 63.81 2026-02-01 CBO West Texas Intermediate crude oil price, 2028 full year 68.59 → 62.86 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2025 Q3 4.141 → 4.096 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2025 Q4 3.779 → 3.689 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2025 full year 4.09 → 4.056 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2026 Q1 3.509 → 3.469 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2026 Q2 3.462 → 3.281 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2026 Q3 3.458 → 3.289 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2026 Q4 3.406 → 3.278 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2026 full year 3.459 → 3.329 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2027 Q1 3.243 → 3.264 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2027 Q2 3.182 → 3.252 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2027 Q3 3.182 → 3.242 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2027 Q4 3.174 → 3.234 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2027 full year 3.195 → 3.248 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2028 Q1 3.166 → 3.226 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2028 Q2 3.16 → 3.219 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2028 Q3 3.154 → 3.213 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2028 Q4 3.125 → 3.208 2026-02-01 CBO U.S. 3-month Treasury bill rate, 2028 full year 3.151 → 3.216 2026-02-01 CBO U.S. labor force participation rate, 2025 Q3 62.42 → 62.32 2026-02-01 CBO U.S. labor force participation rate, 2025 Q4 62.38 → 62.43 2026-02-01 CBO U.S. labor force participation rate, 2025 full year 62.44 → 62.42 2026-02-01 CBO U.S. labor force participation rate, 2026 Q1 62.35 → 62.41 2026-02-01 CBO U.S. labor force participation rate, 2026 Q2 62.31 → 62.39 2026-02-01 CBO U.S. labor force participation rate, 2026 Q3 62.28 → 62.36 2026-02-01 CBO U.S. labor force participation rate, 2026 Q4 62.26 → 62.35 2026-02-01 CBO U.S. labor force participation rate, 2026 full year 62.3 → 62.38 2026-02-01 CBO U.S. labor force participation rate, 2027 Q1 62.23 → 62.33 2026-02-01 CBO U.S. labor force participation rate, 2027 Q2 62.21 → 62.32 2026-02-01 CBO U.S. labor force participation rate, 2027 Q3 62.19 → 62.3 2026-02-01 CBO U.S. labor force participation rate, 2027 Q4 62.17 → 62.29 2026-02-01 CBO U.S. labor force participation rate, 2027 full year 62.2 → 62.31 2026-02-01 CBO U.S. labor force participation rate, 2028 Q1 62.15 → 62.28 2026-02-01 CBO U.S. labor force participation rate, 2028 Q2 62.13 → 62.27 2026-02-01 CBO U.S. labor force participation rate, 2028 Q3 62.08 → 62.25 2026-02-01 CBO U.S. labor force participation rate, 2028 Q4 62.03 → 62.24 2026-02-01 CBO U.S. labor force participation rate, 2028 full year 62.1 → 62.26 2026-02-01 CBO U.S. employment cost index growth, 2025 full year 3.501 → 3.471 2026-02-01 CBO U.S. employment cost index growth, 2027 full year 3.181 → 3.359 2026-02-01 CBO U.S. employment cost index growth, 2028 full year 2.965 → 3.133 2026-02-01 CBO U.S. nonfarm productivity growth, 2025 Q3 1.549 → 4.251 2026-02-01 CBO U.S. nonfarm productivity growth, 2025 Q4 1.385 → 2.169 2026-02-01 CBO U.S. nonfarm productivity growth, 2025 full year 1.715 → 1.623 2026-02-01 CBO U.S. nonfarm productivity growth, 2026 Q1 1.576 → 1.965 2026-02-01 CBO U.S. nonfarm productivity growth, 2026 Q2 1.629 → 1.294 2026-02-01 CBO U.S. nonfarm productivity growth, 2026 Q3 1.508 → 1.463 2026-02-01 CBO U.S. nonfarm productivity growth, 2026 Q4 1.493 → 1.561 2026-02-01 CBO U.S. nonfarm productivity growth, 2026 full year 1.542 → 2.15 2026-02-01 CBO U.S. nonfarm productivity growth, 2027 Q1 1.595 → 1.628 2026-02-01 CBO U.S. nonfarm productivity growth, 2027 Q2 1.431 → 1.644 2026-02-01 CBO U.S. nonfarm productivity growth, 2027 Q3 1.444 → 1.648 2026-02-01 CBO U.S. nonfarm productivity growth, 2027 Q4 1.567 → 1.649 2026-02-01 CBO U.S. nonfarm productivity growth, 2027 full year 1.516 → 1.581 2026-02-01 CBO U.S. nonfarm productivity growth, 2028 Q1 1.547 → 1.649 2026-02-01 CBO U.S. nonfarm productivity growth, 2028 Q2 1.361 → 1.649 2026-02-01 CBO U.S. nonfarm productivity growth, 2028 Q3 1.433 → 1.649 2026-02-01 CBO U.S. nonfarm productivity growth, 2028 Q4 1.496 → 1.65 2026-02-01 CBO U.S. nonfarm productivity growth, 2028 full year 1.478 → 1.649 2026-02-01 CBO Henry Hub natural gas price, 2025 Q3 3.14 → 3.03 2026-02-01 CBO Henry Hub natural gas price, 2025 Q4 3.53 → 3.69 2026-02-01 CBO Henry Hub natural gas price, 2025 full year 3.52 → 3.51 2026-02-01 CBO Henry Hub natural gas price, 2026 Q1 3.85 → 4.27 2026-02-01 CBO Henry Hub natural gas price, 2026 Q2 3.26 → 3.77 2026-02-01 CBO Henry Hub natural gas price, 2026 Q3 3.51 → 4.08 2026-02-01 CBO Henry Hub natural gas price, 2026 Q4 3.86 → 4.41 2026-02-01 CBO Henry Hub natural gas price, 2026 full year 3.96 → 4.13 2026-02-01 CBO Henry Hub natural gas price, 2027 Q1 4.1 → 4.54 2026-02-01 CBO Henry Hub natural gas price, 2027 Q2 3.26 → 3.57 2026-02-01 CBO Henry Hub natural gas price, 2027 Q3 3.5 → 3.81 2026-02-01 CBO Henry Hub natural gas price, 2027 Q4 3.89 → 4.14 2026-02-01 CBO Henry Hub natural gas price, 2027 full year 4.04 → 4.02 2026-02-01 CBO Henry Hub natural gas price, 2028 Q1 4.1 → 4.32 2026-02-01 CBO Henry Hub natural gas price, 2028 Q2 3.17 → 3.35 2026-02-01 CBO Henry Hub natural gas price, 2028 Q3 3.41 → 3.62 2026-02-01 CBO Henry Hub natural gas price, 2028 Q4 3.75 → 3.96 2025-09-01 CBO U.S. real GDP growth, 2025 Q3 1.885 → 0.841 2025-09-01 CBO U.S. real GDP growth, 2025 Q4 1.734 → 2.009 2025-09-01 CBO U.S. real GDP growth, 2025 full year 1.9% → 1.739 2025-09-01 CBO U.S. real GDP growth, 2026 Q1 1.833 → 1.963 2025-09-01 CBO U.S. real GDP growth, 2026 Q2 1.876 → 2.459 2025-09-01 CBO U.S. real GDP growth, 2026 Q3 1.767 → 2.107 2025-09-01 CBO U.S. real GDP growth, 2026 Q4 1.747 → 2.117 2025-09-01 CBO U.S. real GDP growth, 2026 full year 1.827 → 2.034 2025-09-01 CBO U.S. real GDP growth, 2027 Q1 1.818 → 1.773 2025-09-01 CBO U.S. real GDP growth, 2027 Q2 1.691 → 1.85 2025-09-01 CBO U.S. real GDP growth, 2027 Q3 1.704 → 1.798 2025-09-01 CBO U.S. real GDP growth, 2027 Q4 1.804 → 1.713 2025-09-01 CBO U.S. real GDP growth, 2027 full year 1.763 → 1.935 2025-09-01 CBO U.S. real GDP growth, 2028 Q1 1.795 → 1.881 2025-09-01 CBO U.S. real GDP growth, 2028 Q2 1.662 → 1.735 2025-09-01 CBO U.S. real GDP growth, 2028 Q3 1.726 → 1.684 2025-09-01 CBO U.S. real GDP growth, 2028 Q4 1.781 → 1.72 2025-09-01 CBO U.S. real GDP growth, 2028 full year 1.744 → 1.775 2025-09-01 CBO U.S. unemployment rate, 2025 Q3 4.294 → 4.415 2025-09-01 CBO U.S. unemployment rate, 2025 Q4 4.325 → 4.467 2025-09-01 CBO U.S. unemployment rate, 2025 full year 4.277 → 4.287 2025-09-01 CBO U.S. unemployment rate, 2026 Q1 4.347 → 4.517 2025-09-01 CBO U.S. unemployment rate, 2026 Q2 4.361 → 4.478 2025-09-01 CBO U.S. unemployment rate, 2026 Q3 4.37 → 4.349 2025-09-01 CBO U.S. unemployment rate, 2026 Q4 4.377 → 4.225 2025-09-01 CBO U.S. unemployment rate, 2026 full year 4.364 → 4.392 2025-09-01 CBO U.S. unemployment rate, 2027 Q1 4.382 → 4.256 2025-09-01 CBO U.S. unemployment rate, 2027 Q2 4.389 → 4.325 2025-09-01 CBO U.S. unemployment rate, 2027 Q3 4.398 → 4.394 2025-09-01 CBO U.S. unemployment rate, 2027 Q4 4.403 → 4.426 2025-09-01 CBO U.S. unemployment rate, 2027 full year 4.393 → 4.35 2025-09-01 CBO U.S. unemployment rate, 2028 Q1 4.406 → 4.426 2025-09-01 CBO U.S. unemployment rate, 2028 Q2 4.406 → 4.426 2025-09-01 CBO U.S. unemployment rate, 2028 Q3 4.404 → 4.426 2025-09-01 CBO U.S. unemployment rate, 2028 Q4 4.399 → 4.425 2025-09-01 CBO U.S. unemployment rate, 2028 full year 4.404 → 4.426 2025-09-01 CBO U.S. headline PCE inflation, 2025 full year 2.191 → 2.74 2025-09-01 CBO U.S. headline PCE inflation, 2026 full year 2.12 → 2.725 2025-09-01 CBO U.S. headline PCE inflation, 2027 full year 2.025 → 2.088 2025-09-01 CBO U.S. headline PCE inflation, 2028 full year 2.0 → 1.995 2025-09-01 CBO U.S. headline CPI inflation, 2025 full year 2.235 → 2.827 2025-09-01 CBO U.S. headline CPI inflation, 2026 full year 2.441 → 2.744 2025-09-01 CBO U.S. headline CPI inflation, 2027 full year 2.315 → 2.249 2025-09-01 CBO U.S. headline CPI inflation, 2028 full year 2.257 → 2.213 2025-09-01 CBO U.S. core CPI inflation, 2025 full year 2.567 → 3.064 2025-09-01 CBO U.S. core CPI inflation, 2026 full year 2.397 → 3.051 2025-09-01 CBO U.S. core CPI inflation, 2027 full year 2.299 → 2.377 2025-09-01 CBO U.S. core CPI inflation, 2028 full year 2.283 → 2.256 2025-09-01 CBO U.S. core PCE inflation, 2025 full year 2.455 → 2.973 2025-09-01 CBO U.S. core PCE inflation, 2026 full year 2.137 → 2.981 2025-09-01 CBO U.S. core PCE inflation, 2027 full year 2.046 → 2.217 2025-09-01 CBO U.S. core PCE inflation, 2028 full year 2.041 → 2.059 2025-09-01 CBO Federal funds rate, 2025 Q3 3.913 → 4.33 2025-09-01 CBO Federal funds rate, 2025 Q4 3.746 → 3.996 2025-09-01 CBO Federal funds rate, 2025 full year 4.017 → 4.246 2025-09-01 CBO Federal funds rate, 2026 Q1 3.638 → 3.663 2025-09-01 CBO Federal funds rate, 2026 Q2 3.512 → 3.58 2025-09-01 CBO Federal funds rate, 2026 Q3 3.421 → 3.58 2025-09-01 CBO Federal funds rate, 2026 Q4 3.365 → 3.58 2025-09-01 CBO Federal funds rate, 2026 full year 3.484 → 3.6 2025-09-01 CBO Federal funds rate, 2027 Q1 3.34 → 3.413 2025-09-01 CBO Federal funds rate, 2027 Q2 3.339 → 3.33 2025-09-01 CBO Federal funds rate, 2027 Q3 3.349 → 3.33 2025-09-01 CBO Federal funds rate, 2027 Q4 3.363 → 3.33 2025-09-01 CBO Federal funds rate, 2027 full year 3.348 → 3.35 2025-09-01 CBO Federal funds rate, 2028 Q1 3.364 → 3.33 2025-09-01 CBO Federal funds rate, 2028 Q2 3.361 → 3.33 2025-09-01 CBO Federal funds rate, 2028 Q3 3.356 → 3.33 2025-09-01 CBO Federal funds rate, 2028 Q4 3.35 → 3.33 2025-09-01 CBO Federal funds rate, 2028 full year 3.358 → 3.33 2025-09-01 CBO U.S. 10-year Treasury yield, 2025 Q3 4.03 → 4.282 2025-09-01 CBO U.S. 10-year Treasury yield, 2025 Q4 3.985 → 4.28 2025-09-01 CBO U.S. 10-year Treasury yield, 2025 full year 4.093 → 4.344 2025-09-01 CBO U.S. 10-year Treasury yield, 2026 Q1 3.954 → 4.24 2025-09-01 CBO U.S. 10-year Treasury yield, 2026 Q2 3.936 → 4.216 2025-09-01 CBO U.S. 10-year Treasury yield, 2026 Q3 3.927 → 4.177 2025-09-01 CBO U.S. 10-year Treasury yield, 2026 Q4 3.924 → 4.132 2025-09-01 CBO U.S. 10-year Treasury yield, 2026 full year 3.935 → 4.191 2025-09-01 CBO U.S. 10-year Treasury yield, 2027 Q1 3.921 → 4.087 2025-09-01 CBO U.S. 10-year Treasury yield, 2027 Q2 3.917 → 4.049 2025-09-01 CBO U.S. 10-year Treasury yield, 2027 Q3 3.913 → 4.015 2025-09-01 CBO U.S. 10-year Treasury yield, 2027 Q4 3.908 → 3.985 2025-09-01 CBO U.S. 10-year Treasury yield, 2027 full year 3.914 → 4.034 2025-09-01 CBO U.S. 10-year Treasury yield, 2028 Q1 3.902 → 3.957 2025-09-01 CBO U.S. 10-year Treasury yield, 2028 Q2 3.897 → 3.932 2025-09-01 CBO U.S. 10-year Treasury yield, 2028 Q3 3.891 → 3.91 2025-09-01 CBO U.S. 10-year Treasury yield, 2028 Q4 3.887 → 3.89 2025-09-01 CBO U.S. 10-year Treasury yield, 2028 full year 3.894 → 3.922 2025-09-01 CBO U.S. personal consumption growth, 2025 Q3 1.797 → 1.254 2025-09-01 CBO U.S. personal consumption growth, 2025 Q4 1.605 → 0.684 2025-09-01 CBO U.S. personal consumption growth, 2025 full year 2.442 → 1.989 2025-09-01 CBO U.S. personal consumption growth, 2026 Q1 1.293 → 1.244 2025-09-01 CBO U.S. personal consumption growth, 2026 Q2 1.648 → 2.041 2025-09-01 CBO U.S. personal consumption growth, 2026 Q3 1.158 → 1.855 2025-09-01 CBO U.S. personal consumption growth, 2026 Q4 1.546 → 1.57 2025-09-01 CBO U.S. personal consumption growth, 2026 full year 1.558 → 1.407 2025-09-01 CBO U.S. personal consumption growth, 2027 Q1 1.754 → 1.512 2025-09-01 CBO U.S. personal consumption growth, 2027 Q2 1.325 → 1.399 2025-09-01 CBO U.S. personal consumption growth, 2027 Q3 1.313 → 1.393 2025-09-01 CBO U.S. personal consumption growth, 2027 Q4 1.528 → 1.476 2025-09-01 CBO U.S. personal consumption growth, 2027 full year 1.484 → 1.56 2025-09-01 CBO U.S. personal consumption growth, 2028 Q1 1.682 → 1.797 2025-09-01 CBO U.S. personal consumption growth, 2028 Q2 1.609 → 1.541 2025-09-01 CBO U.S. personal consumption growth, 2028 Q3 1.773 → 1.543 2025-09-01 CBO U.S. personal consumption growth, 2028 Q4 1.814 → 1.341 2025-09-01 CBO U.S. personal consumption growth, 2028 full year 1.591 → 1.553 2025-09-01 CBO U.S. business fixed investment growth, 2025 Q3 2.259 → 1.963 2025-09-01 CBO U.S. business fixed investment growth, 2025 Q4 2.707 → 0.838 2025-09-01 CBO U.S. business fixed investment growth, 2025 full year 2.593 → 4.043 2025-09-01 CBO U.S. business fixed investment growth, 2026 Q1 2.287 → 3.4 2025-09-01 CBO U.S. business fixed investment growth, 2026 Q2 2.798 → 3.465 2025-09-01 CBO U.S. business fixed investment growth, 2026 Q3 2.964 → 3.435 2025-09-01 CBO U.S. business fixed investment growth, 2026 Q4 2.978 → 3.409 2025-09-01 CBO U.S. business fixed investment growth, 2026 full year 2.581 → 2.895 2025-09-01 CBO U.S. business fixed investment growth, 2027 Q1 2.641 → 3.289 2025-09-01 CBO U.S. business fixed investment growth, 2027 Q2 2.977 → 2.889 2025-09-01 CBO U.S. business fixed investment growth, 2027 Q3 2.723 → 2.773 2025-09-01 CBO U.S. business fixed investment growth, 2027 Q4 2.68 → 2.333 2025-09-01 CBO U.S. business fixed investment growth, 2027 full year 2.83 → 3.139 2025-09-01 CBO U.S. business fixed investment growth, 2028 Q1 2.446 → 1.846 2025-09-01 CBO U.S. business fixed investment growth, 2028 Q2 2.338 → 1.611 2025-09-01 CBO U.S. business fixed investment growth, 2028 Q3 2.156 → 1.52 2025-09-01 CBO U.S. business fixed investment growth, 2028 Q4 2.117 → 1.507 2025-09-01 CBO U.S. business fixed investment growth, 2028 full year 2.479 → 2.009 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2025 Q3 3.73 → 4.141 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2025 Q4 3.573 → 3.779 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2025 full year 3.842 → 4.09 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2026 Q1 3.448 → 3.509 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2026 Q2 3.328 → 3.462 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2026 Q3 3.243 → 3.458 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2026 Q4 3.193 → 3.406 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2026 full year 3.303 → 3.459 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2027 Q1 3.171 → 3.243 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2027 Q2 3.169 → 3.182 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2027 Q3 3.175 → 3.182 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2027 Q4 3.18 → 3.174 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2027 full year 3.174 → 3.195 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2028 Q1 3.177 → 3.166 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2028 Q2 3.171 → 3.16 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2028 Q3 3.164 → 3.154 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2028 Q4 3.158 → 3.125 2025-09-01 CBO U.S. 3-month Treasury bill rate, 2028 full year 3.167 → 3.151 2025-09-01 CBO U.S. labor force participation rate, 2025 Q3 62.632 → 62.42 2025-09-01 CBO U.S. labor force participation rate, 2025 Q4 62.587 → 62.38 2025-09-01 CBO U.S. labor force participation rate, 2025 full year 62.648 → 62.44 2025-09-01 CBO U.S. labor force participation rate, 2026 Q1 62.539 → 62.35 2025-09-01 CBO U.S. labor force participation rate, 2026 Q2 62.461 → 62.31 2025-09-01 CBO U.S. labor force participation rate, 2026 Q3 62.381 → 62.28 2025-09-01 CBO U.S. labor force participation rate, 2026 Q4 62.296 → 62.26 2025-09-01 CBO U.S. labor force participation rate, 2026 full year 62.419 → 62.3 2025-09-01 CBO U.S. labor force participation rate, 2027 Q1 62.219 → 62.23 2025-09-01 CBO U.S. labor force participation rate, 2027 Q2 62.145 → 62.21 2025-09-01 CBO U.S. labor force participation rate, 2027 Q3 62.076 → 62.19 2025-09-01 CBO U.S. labor force participation rate, 2027 Q4 62.012 → 62.17 2025-09-01 CBO U.S. labor force participation rate, 2027 full year 62.113 → 62.2 2025-09-01 CBO U.S. labor force participation rate, 2028 Q1 61.955 → 62.15 2025-09-01 CBO U.S. labor force participation rate, 2028 Q2 61.903 → 62.13 2025-09-01 CBO U.S. labor force participation rate, 2028 Q3 61.857 → 62.08 2025-09-01 CBO U.S. labor force participation rate, 2028 Q4 61.815 → 62.03 2025-09-01 CBO U.S. labor force participation rate, 2028 full year 61.882 → 62.1 2025-09-01 CBO U.S. employment cost index growth, 2025 full year 3.485 → 3.501 2025-09-01 CBO U.S. employment cost index growth, 2026 full year 3.355 → 3.416 2025-09-01 CBO U.S. employment cost index growth, 2027 full year 3.204 → 3.181 2025-09-01 CBO U.S. employment cost index growth, 2028 full year 3.099 → 2.965 2025-06-18 Fed U.S. real GDP growth, 2025 Q4 1.7% → 1.4% 2025-06-18 Fed U.S. unemployment rate, 2025 Q4 4.4% → 4.5% 2025-06-18 Fed U.S. headline PCE inflation, 2025 Q4 2.7% → 3.0% 2025-01-17 CBO U.S. real GDP growth, 2025 full year 2.124 → 1.9% 2025-01-01 CBO U.S. real GDP growth, 2024 Q4 1.931 → 1.945 2025-01-01 CBO U.S. real GDP growth, 2024 full year 2.59 → 2.734 2025-01-01 CBO U.S. real GDP growth, 2025 Q1 2.008 → 1.985 2025-01-01 CBO U.S. real GDP growth, 2025 Q2 2.127 → 2.027 2025-01-01 CBO U.S. real GDP growth, 2025 Q3 2.097 → 1.885 2025-01-01 CBO U.S. real GDP growth, 2025 Q4 1.917 → 1.734 2025-01-01 CBO U.S. real GDP growth, 2025 full year 2.057 → 2.124 2025-01-01 CBO U.S. real GDP growth, 2026 Q1 1.681 → 1.833 2025-01-01 CBO U.S. real GDP growth, 2026 Q2 1.702 → 1.876 2025-01-01 CBO U.S. real GDP growth, 2026 Q3 1.817 → 1.767 2025-01-01 CBO U.S. real GDP growth, 2026 Q4 1.828 → 1.747 2025-01-01 CBO U.S. real GDP growth, 2026 full year 1.835 → 1.827 2025-01-01 CBO U.S. real GDP growth, 2027 Q1 1.742 → 1.818 2025-01-01 CBO U.S. real GDP growth, 2027 Q2 1.681 → 1.691 2025-01-01 CBO U.S. real GDP growth, 2027 Q3 1.693 → 1.704 2025-01-01 CBO U.S. real GDP growth, 2027 Q4 1.705 → 1.804 2025-01-01 CBO U.S. real GDP growth, 2027 full year 1.745 → 1.763 2025-01-01 CBO U.S. unemployment rate, 2024 Q4 3.932 → 4.185 2025-01-01 CBO U.S. unemployment rate, 2024 full year 3.882 → 4.046 2025-01-01 CBO U.S. unemployment rate, 2025 Q1 3.957 → 4.229 2025-01-01 CBO U.S. unemployment rate, 2025 Q2 3.957 → 4.259 2025-01-01 CBO U.S. unemployment rate, 2025 Q3 3.975 → 4.294 2025-01-01 CBO U.S. unemployment rate, 2025 Q4 4.004 → 4.325 2025-01-01 CBO U.S. unemployment rate, 2025 full year 3.973 → 4.277 2025-01-01 CBO U.S. unemployment rate, 2026 Q1 4.078 → 4.347 2025-01-01 CBO U.S. unemployment rate, 2026 Q2 4.137 → 4.361 2025-01-01 CBO U.S. unemployment rate, 2026 Q3 4.187 → 4.37 2025-01-01 CBO U.S. unemployment rate, 2026 Q4 4.228 → 4.377 2025-01-01 CBO U.S. unemployment rate, 2026 full year 4.158 → 4.364 2025-01-01 CBO U.S. unemployment rate, 2027 Q1 4.27 → 4.382 2025-01-01 CBO U.S. unemployment rate, 2027 Q2 4.305 → 4.389 2025-01-01 CBO U.S. unemployment rate, 2027 Q3 4.34 → 4.398 2025-01-01 CBO U.S. unemployment rate, 2027 Q4 4.372 → 4.403 2025-01-01 CBO U.S. unemployment rate, 2027 full year 4.322 → 4.393 2025-01-01 CBO U.S. headline PCE inflation, 2024 full year 2.666 → 2.496 2025-01-01 CBO U.S. headline PCE inflation, 2025 full year 2.196 → 2.191 2025-01-01 CBO U.S. headline PCE inflation, 2026 full year 1.991 → 2.12 2025-01-01 CBO U.S. headline PCE inflation, 2027 full year 1.912 → 2.025 2025-01-01 CBO U.S. headline CPI inflation, 2024 full year 3.193 → 2.923 2025-01-01 CBO U.S. headline CPI inflation, 2025 full year 2.43 → 2.235 2025-01-01 CBO U.S. headline CPI inflation, 2026 full year 2.232 → 2.441 2025-01-01 CBO U.S. headline CPI inflation, 2027 full year 2.155 → 2.315 2025-01-01 CBO U.S. core CPI inflation, 2024 full year 3.577 → 3.415 2025-01-01 CBO U.S. core CPI inflation, 2025 full year 2.73 → 2.567 2025-01-01 CBO U.S. core CPI inflation, 2026 full year 2.395 → 2.397 2025-01-01 CBO U.S. core CPI inflation, 2027 full year 2.283 → 2.299 2025-01-01 CBO U.S. core PCE inflation, 2024 full year 2.873 → 2.81 2025-01-01 CBO U.S. core PCE inflation, 2025 full year 2.437 → 2.455 2025-01-01 CBO U.S. core PCE inflation, 2026 full year 2.143 → 2.137 2025-01-01 CBO U.S. core PCE inflation, 2027 full year 2.022 → 2.046 2025-01-01 CBO Federal funds rate, 2024 Q4 5.331 → 4.649 2025-01-01 CBO Federal funds rate, 2024 full year 5.33 → 5.143 2025-01-01 CBO Federal funds rate, 2025 Q1 5.209 → 4.329 2025-01-01 CBO Federal funds rate, 2025 Q2 4.96 → 4.079 2025-01-01 CBO Federal funds rate, 2025 Q3 4.71 → 3.913 2025-01-01 CBO Federal funds rate, 2025 Q4 4.46 → 3.746 2025-01-01 CBO Federal funds rate, 2025 full year 4.835 → 4.017 2025-01-01 CBO Federal funds rate, 2026 Q1 4.21 → 3.638 2025-01-01 CBO Federal funds rate, 2026 Q2 3.96 → 3.512 2025-01-01 CBO Federal funds rate, 2026 Q3 3.71 → 3.421 2025-01-01 CBO Federal funds rate, 2026 Q4 3.46 → 3.365 2025-01-01 CBO Federal funds rate, 2026 full year 3.835 → 3.484 2025-01-01 CBO Federal funds rate, 2027 Q1 3.38 → 3.34 2025-01-01 CBO Federal funds rate, 2027 Q2 3.288 → 3.339 2025-01-01 CBO Federal funds rate, 2027 Q3 3.211 → 3.349 2025-01-01 CBO Federal funds rate, 2027 Q4 3.146 → 3.363 2025-01-01 CBO Federal funds rate, 2027 full year 3.256 → 3.348 2025-01-01 CBO U.S. 10-year Treasury yield, 2024 Q4 4.416 → 4.202 2025-01-01 CBO U.S. 10-year Treasury yield, 2024 full year 4.453 → 4.188 2025-01-01 CBO U.S. 10-year Treasury yield, 2025 Q1 4.328 → 4.245 2025-01-01 CBO U.S. 10-year Treasury yield, 2025 Q2 4.142 → 4.113 2025-01-01 CBO U.S. 10-year Treasury yield, 2025 Q3 4.011 → 4.03 2025-01-01 CBO U.S. 10-year Treasury yield, 2025 Q4 3.877 → 3.985 2025-01-01 CBO U.S. 10-year Treasury yield, 2025 full year 4.09 → 4.093 2025-01-01 CBO U.S. 10-year Treasury yield, 2026 Q1 3.766 → 3.954 2025-01-01 CBO U.S. 10-year Treasury yield, 2026 Q2 3.687 → 3.936 2025-01-01 CBO U.S. 10-year Treasury yield, 2026 Q3 3.621 → 3.927 2025-01-01 CBO U.S. 10-year Treasury yield, 2026 Q4 3.576 → 3.924 2025-01-01 CBO U.S. 10-year Treasury yield, 2026 full year 3.663 → 3.935 2025-01-01 CBO U.S. 10-year Treasury yield, 2027 Q1 3.578 → 3.921 2025-01-01 CBO U.S. 10-year Treasury yield, 2027 Q2 3.585 → 3.917 2025-01-01 CBO U.S. 10-year Treasury yield, 2027 Q3 3.596 → 3.913 2025-01-01 CBO U.S. 10-year Treasury yield, 2027 Q4 3.611 → 3.908 2025-01-01 CBO U.S. 10-year Treasury yield, 2027 full year 3.593 → 3.914 2025-01-01 CBO U.S. personal consumption growth, 2024 Q4 1.455 → 2.752 2025-01-01 CBO U.S. personal consumption growth, 2024 full year 2.735 → 2.656 2025-01-01 CBO U.S. personal consumption growth, 2025 Q1 1.589 → 2.025 2025-01-01 CBO U.S. personal consumption growth, 2025 Q2 1.586 → 2.566 2025-01-01 CBO U.S. personal consumption growth, 2025 Q3 1.46 → 1.797 2025-01-01 CBO U.S. personal consumption growth, 2025 Q4 1.376 → 1.605 2025-01-01 CBO U.S. personal consumption growth, 2025 full year 1.768 → 2.442 2025-01-01 CBO U.S. personal consumption growth, 2026 Q1 0.94 → 1.293 2025-01-01 CBO U.S. personal consumption growth, 2026 Q2 1.206 → 1.648 2025-01-01 CBO U.S. personal consumption growth, 2026 Q3 1.387 → 1.158 2025-01-01 CBO U.S. personal consumption growth, 2026 Q4 1.536 → 1.546 2025-01-01 CBO U.S. personal consumption growth, 2026 full year 1.27 → 1.558 2025-01-01 CBO U.S. personal consumption growth, 2027 Q1 1.404 → 1.754 2025-01-01 CBO U.S. personal consumption growth, 2027 Q2 1.458 → 1.325 2025-01-01 CBO U.S. personal consumption growth, 2027 Q3 1.494 → 1.313 2025-01-01 CBO U.S. personal consumption growth, 2027 Q4 1.545 → 1.528 2025-01-01 CBO U.S. personal consumption growth, 2027 full year 1.445 → 1.484 2025-01-01 CBO U.S. business fixed investment growth, 2024 Q4 2.557 → 0.118 2025-01-01 CBO U.S. business fixed investment growth, 2024 full year 2.189 → 3.778 2025-01-01 CBO U.S. business fixed investment growth, 2025 Q1 2.305 → 4.019 2025-01-01 CBO U.S. business fixed investment growth, 2025 Q2 3.226 → 2.191 2025-01-01 CBO U.S. business fixed investment growth, 2025 Q3 3.316 → 2.259 2025-01-01 CBO U.S. business fixed investment growth, 2025 Q4 3.273 → 2.707 2025-01-01 CBO U.S. business fixed investment growth, 2025 full year 2.689 → 2.593 2025-01-01 CBO U.S. business fixed investment growth, 2026 Q1 2.574 → 2.287 2025-01-01 CBO U.S. business fixed investment growth, 2026 Q2 3.496 → 2.798 2025-01-01 CBO U.S. business fixed investment growth, 2026 Q3 3.666 → 2.964 2025-01-01 CBO U.S. business fixed investment growth, 2026 Q4 3.896 → 2.978 2025-01-01 CBO U.S. business fixed investment growth, 2026 full year 3.231 → 2.581 2025-01-01 CBO U.S. business fixed investment growth, 2027 Q1 3.321 → 2.641 2025-01-01 CBO U.S. business fixed investment growth, 2027 Q2 3.688 → 2.977 2025-01-01 CBO U.S. business fixed investment growth, 2027 Q3 3.683 → 2.723 2025-01-01 CBO U.S. business fixed investment growth, 2027 Q4 3.476 → 2.68 2025-01-01 CBO U.S. business fixed investment growth, 2027 full year 3.606 → 2.83 2025-01-01 CBO West Texas Intermediate crude oil price, 2024 Q4 80.88 → 70.67 2025-01-01 CBO West Texas Intermediate crude oil price, 2024 full year 81.56 → 76.55 2025-01-01 CBO West Texas Intermediate crude oil price, 2025 Q1 79.25 → 68.9 2025-01-01 CBO West Texas Intermediate crude oil price, 2025 Q2 77.9 → 68.69 2025-01-01 CBO West Texas Intermediate crude oil price, 2025 Q3 76.8 → 68.5 2025-01-01 CBO West Texas Intermediate crude oil price, 2025 Q4 75.9 → 68.25 2025-01-01 CBO West Texas Intermediate crude oil price, 2025 full year 77.46 → 68.59 2025-01-01 CBO West Texas Intermediate crude oil price, 2026 Q1 75.13 → 68.07 2025-01-01 CBO West Texas Intermediate crude oil price, 2026 Q2 74.46 → 67.92 2025-01-01 CBO West Texas Intermediate crude oil price, 2026 Q3 73.89 → 67.83 2025-01-01 CBO West Texas Intermediate crude oil price, 2026 Q4 73.42 → 67.79 2025-01-01 CBO West Texas Intermediate crude oil price, 2026 full year 74.22 → 67.9 2025-01-01 CBO West Texas Intermediate crude oil price, 2027 Q1 73.05 → 67.79 2025-01-01 CBO West Texas Intermediate crude oil price, 2027 Q2 72.77 → 67.83 2025-01-01 CBO West Texas Intermediate crude oil price, 2027 Q3 72.59 → 67.93 2025-01-01 CBO West Texas Intermediate crude oil price, 2027 Q4 72.48 → 68.06 2025-01-01 CBO West Texas Intermediate crude oil price, 2027 full year 72.72 → 67.9 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2024 Q4 5.116 → 4.43 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2024 full year 5.196 → 4.974 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2025 Q1 4.927 → 4.152 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2025 Q2 4.668 → 3.913 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2025 Q3 4.414 → 3.73 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2025 Q4 4.163 → 3.573 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2025 full year 4.543 → 3.842 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2026 Q1 3.916 → 3.448 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2026 Q2 3.67 → 3.328 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2026 Q3 3.427 → 3.243 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2026 Q4 3.247 → 3.193 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2026 full year 3.565 → 3.303 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2027 Q1 3.162 → 3.171 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2027 Q2 3.077 → 3.169 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2027 Q3 3.006 → 3.175 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2027 Q4 2.946 → 3.18 2025-01-01 CBO U.S. 3-month Treasury bill rate, 2027 full year 3.048 → 3.174 2025-01-01 CBO U.S. labor force participation rate, 2024 Q4 62.367 → 62.712 2025-01-01 CBO U.S. labor force participation rate, 2024 full year 62.459 → 62.644 2025-01-01 CBO U.S. labor force participation rate, 2025 Q1 62.322 → 62.704 2025-01-01 CBO U.S. labor force participation rate, 2025 Q2 62.271 → 62.671 2025-01-01 CBO U.S. labor force participation rate, 2025 Q3 62.229 → 62.632 2025-01-01 CBO U.S. labor force participation rate, 2025 Q4 62.191 → 62.587 2025-01-01 CBO U.S. labor force participation rate, 2025 full year 62.253 → 62.648 2025-01-01 CBO U.S. labor force participation rate, 2026 Q1 62.143 → 62.539 2025-01-01 CBO U.S. labor force participation rate, 2026 Q2 62.099 → 62.461 2025-01-01 CBO U.S. labor force participation rate, 2026 Q3 62.059 → 62.381 2025-01-01 CBO U.S. labor force participation rate, 2026 Q4 62.021 → 62.296 2025-01-01 CBO U.S. labor force participation rate, 2026 full year 62.081 → 62.419 2025-01-01 CBO U.S. labor force participation rate, 2027 Q1 61.986 → 62.219 2025-01-01 CBO U.S. labor force participation rate, 2027 Q2 61.951 → 62.145 2025-01-01 CBO U.S. labor force participation rate, 2027 Q3 61.918 → 62.076 2025-01-01 CBO U.S. labor force participation rate, 2027 Q4 61.887 → 62.012 2025-01-01 CBO U.S. labor force participation rate, 2027 full year 61.936 → 62.113 2025-01-01 CBO U.S. employment cost index growth, 2024 full year 4.138 → 3.947 2025-01-01 CBO U.S. employment cost index growth, 2025 full year 3.707 → 3.485 2025-01-01 CBO U.S. employment cost index growth, 2026 full year 3.388 → 3.355 2025-01-01 CBO U.S. employment cost index growth, 2027 full year 3.222 → 3.204 2025-01-01 CBO U.S. nonfarm productivity growth, 2024 Q4 1.591 → 0.965 2025-01-01 CBO U.S. nonfarm productivity growth, 2024 full year 2.205 → 2.199 2025-01-01 CBO U.S. nonfarm productivity growth, 2025 Q1 1.777 → 2.09 2025-01-01 CBO U.S. nonfarm productivity growth, 2025 Q2 1.903 → 1.713 2025-01-01 CBO U.S. nonfarm productivity growth, 2025 Q3 1.682 → 1.549 2025-01-01 CBO U.S. nonfarm productivity growth, 2025 Q4 1.612 → 1.385 2025-01-01 CBO U.S. nonfarm productivity growth, 2025 full year 1.753 → 1.715 2025-01-01 CBO U.S. nonfarm productivity growth, 2026 Q1 1.631 → 1.576 2025-01-01 CBO U.S. nonfarm productivity growth, 2026 Q2 1.519 → 1.629 2025-01-01 CBO U.S. nonfarm productivity growth, 2026 Q3 1.681 → 1.508 2025-01-01 CBO U.S. nonfarm productivity growth, 2026 Q4 1.707 → 1.493 2025-01-01 CBO U.S. nonfarm productivity growth, 2026 full year 1.641 → 1.542 2025-01-01 CBO U.S. nonfarm productivity growth, 2027 Q1 1.604 → 1.595 2025-01-01 CBO U.S. nonfarm productivity growth, 2027 Q2 1.525 → 1.431 2025-01-01 CBO U.S. nonfarm productivity growth, 2027 Q3 1.537 → 1.444 2025-01-01 CBO U.S. nonfarm productivity growth, 2027 Q4 1.529 → 1.567 2025-01-01 CBO U.S. nonfarm productivity growth, 2027 full year 1.6 → 1.516 2025-01-01 CBO Henry Hub natural gas price, 2024 Q4 3.0 → 2.38 2025-01-01 CBO Henry Hub natural gas price, 2025 Q1 3.54 → 2.93 2025-01-01 CBO Henry Hub natural gas price, 2025 Q2 3.15 → 2.82 2025-01-01 CBO Henry Hub natural gas price, 2025 Q3 3.48 → 3.14 2025-01-01 CBO Henry Hub natural gas price, 2025 Q4 3.9 → 3.53 2025-01-01 CBO Henry Hub natural gas price, 2026 Q1 4.25 → 3.85 2025-01-01 CBO Henry Hub natural gas price, 2026 Q2 3.52 → 3.26 2025-01-01 CBO Henry Hub natural gas price, 2026 Q3 3.83 → 3.51 2025-01-01 CBO Henry Hub natural gas price, 2026 Q4 4.23 → 3.86 2025-01-01 CBO Henry Hub natural gas price, 2027 Q1 4.52 → 4.1 2025-01-01 CBO Henry Hub natural gas price, 2027 Q2 3.55 → 3.26 2025-01-01 CBO Henry Hub natural gas price, 2027 Q3 3.84 → 3.5 2025-01-01 CBO Henry Hub natural gas price, 2027 Q4 4.25 → 3.89 2024-06-01 CBO U.S. real GDP growth, 2024 Q2 1.389 → 2.36 2024-06-01 CBO U.S. real GDP growth, 2024 Q3 1.662 → 2.119 2024-06-01 CBO U.S. real GDP growth, 2024 Q4 1.742 → 1.931 2024-06-01 CBO U.S. real GDP growth, 2024 full year 1.82 → 2.59 2024-06-01 CBO U.S. real GDP growth, 2025 Q1 1.965 → 2.008 2024-06-01 CBO U.S. real GDP growth, 2025 Q2 2.248 → 2.127 2024-06-01 CBO U.S. real GDP growth, 2025 Q3 2.284 → 2.097 2024-06-01 CBO U.S. real GDP growth, 2025 Q4 2.406 → 1.917 2024-06-01 CBO U.S. real GDP growth, 2025 full year 1.971 → 2.057 2024-06-01 CBO U.S. real GDP growth, 2026 Q1 2.157 → 1.681 2024-06-01 CBO U.S. real GDP growth, 2026 Q2 2.165 → 1.702 2024-06-01 CBO U.S. real GDP growth, 2026 Q3 2.152 → 1.817 2024-06-01 CBO U.S. real GDP growth, 2026 Q4 2.134 → 1.828 2024-06-01 CBO U.S. real GDP growth, 2026 full year 2.224 → 1.835 2024-06-01 CBO U.S. real GDP growth, 2027 Q1 2.184 → 1.742 2024-06-01 CBO U.S. real GDP growth, 2027 Q2 2.148 → 1.681 2024-06-01 CBO U.S. real GDP growth, 2027 Q3 2.128 → 1.693 2024-06-01 CBO U.S. real GDP growth, 2027 Q4 2.106 → 1.705 2024-06-01 CBO U.S. real GDP growth, 2027 full year 2.151 → 1.745 2024-06-01 CBO U.S. unemployment rate, 2024 Q2 4.11 → 3.881 2024-06-01 CBO U.S. unemployment rate, 2024 Q3 4.246 → 3.915 2024-06-01 CBO U.S. unemployment rate, 2024 Q4 4.371 → 3.932 2024-06-01 CBO U.S. unemployment rate, 2024 full year 4.175 → 3.882 2024-06-01 CBO U.S. unemployment rate, 2025 Q1 4.409 → 3.957 2024-06-01 CBO U.S. unemployment rate, 2025 Q2 4.403 → 3.957 2024-06-01 CBO U.S. unemployment rate, 2025 Q3 4.375 → 3.975 2024-06-01 CBO U.S. unemployment rate, 2025 Q4 4.354 → 4.004 2024-06-01 CBO U.S. unemployment rate, 2025 full year 4.385 → 3.973 2024-06-01 CBO U.S. unemployment rate, 2026 Q1 4.344 → 4.078 2024-06-01 CBO U.S. unemployment rate, 2026 Q2 4.343 → 4.137 2024-06-01 CBO U.S. unemployment rate, 2026 Q3 4.349 → 4.187 2024-06-01 CBO U.S. unemployment rate, 2026 Q4 4.357 → 4.228 2024-06-01 CBO U.S. unemployment rate, 2026 full year 4.348 → 4.158 2024-06-01 CBO U.S. unemployment rate, 2027 Q1 4.366 → 4.27 2024-06-01 CBO U.S. unemployment rate, 2027 Q2 4.374 → 4.305 2024-06-01 CBO U.S. unemployment rate, 2027 Q3 4.381 → 4.34 2024-06-01 CBO U.S. unemployment rate, 2027 Q4 4.388 → 4.372 2024-06-01 CBO U.S. unemployment rate, 2027 full year 4.377 → 4.322 2024-06-01 CBO U.S. headline PCE inflation, 2024 full year 2.202 → 2.666 2024-06-01 CBO U.S. headline PCE inflation, 2025 full year 2.208 → 2.196 2024-06-01 CBO U.S. headline PCE inflation, 2026 full year 2.114 → 1.991 2024-06-01 CBO U.S. headline PCE inflation, 2027 full year 2.011 → 1.912 2024-06-01 CBO U.S. headline CPI inflation, 2024 full year 2.597 → 3.193 2024-06-01 CBO U.S. headline CPI inflation, 2025 full year 2.515 → 2.43 2024-06-01 CBO U.S. headline CPI inflation, 2026 full year 2.325 → 2.232 2024-06-01 CBO U.S. headline CPI inflation, 2027 full year 2.188 → 2.155 2024-06-01 CBO U.S. core CPI inflation, 2024 full year 3.103 → 3.577 2024-06-01 CBO U.S. core CPI inflation, 2025 full year 2.736 → 2.73 2024-06-01 CBO U.S. core CPI inflation, 2026 full year 2.462 → 2.395 2024-06-01 CBO U.S. core CPI inflation, 2027 full year 2.276 → 2.283 2024-06-01 CBO U.S. core PCE inflation, 2024 full year 2.5 → 2.873 2024-06-01 CBO U.S. core PCE inflation, 2025 full year 2.37 → 2.437 2024-06-01 CBO U.S. core PCE inflation, 2026 full year 2.22 → 2.143 2024-06-01 CBO U.S. core PCE inflation, 2027 full year 2.079 → 2.022 2024-06-01 CBO Federal funds rate, 2024 Q2 5.208 → 5.33 2024-06-01 CBO Federal funds rate, 2024 Q3 4.958 → 5.33 2024-06-01 CBO Federal funds rate, 2024 Q4 4.708 → 5.331 2024-06-01 CBO Federal funds rate, 2024 full year 5.062 → 5.33 2024-06-01 CBO Federal funds rate, 2025 Q1 4.458 → 5.209 2024-06-01 CBO Federal funds rate, 2025 Q2 4.208 → 4.96 2024-06-01 CBO Federal funds rate, 2025 Q3 3.958 → 4.71 2024-06-01 CBO Federal funds rate, 2025 Q4 3.708 → 4.46 2024-06-01 CBO Federal funds rate, 2025 full year 4.083 → 4.835 2024-06-01 CBO Federal funds rate, 2026 Q1 3.458 → 4.21 2024-06-01 CBO Federal funds rate, 2026 Q2 3.374 → 3.96 2024-06-01 CBO Federal funds rate, 2026 Q3 3.291 → 3.71 2024-06-01 CBO Federal funds rate, 2026 Q4 3.125 → 3.46 2024-06-01 CBO Federal funds rate, 2026 full year 3.312 → 3.835 2024-06-01 CBO Federal funds rate, 2027 Q1 3.124 → 3.38 2024-06-01 CBO Federal funds rate, 2027 Q2 2.958 → 3.288 2024-06-01 CBO Federal funds rate, 2027 Q3 2.874 → 3.211 2024-06-01 CBO Federal funds rate, 2027 Q4 2.874 → 3.146 2024-06-01 CBO Federal funds rate, 2027 full year 2.958 → 3.256 2024-06-01 CBO U.S. 10-year Treasury yield, 2024 Q2 4.644 → 4.69 2024-06-01 CBO U.S. 10-year Treasury yield, 2024 Q3 4.766 → 4.546 2024-06-01 CBO U.S. 10-year Treasury yield, 2024 Q4 4.819 → 4.416 2024-06-01 CBO U.S. 10-year Treasury yield, 2024 full year 4.608 → 4.453 2024-06-01 CBO U.S. 10-year Treasury yield, 2025 Q1 4.811 → 4.328 2024-06-01 CBO U.S. 10-year Treasury yield, 2025 Q2 4.664 → 4.142 2024-06-01 CBO U.S. 10-year Treasury yield, 2025 Q3 4.511 → 4.011 2024-06-01 CBO U.S. 10-year Treasury yield, 2025 Q4 4.315 → 3.877 2024-06-01 CBO U.S. 10-year Treasury yield, 2025 full year 4.575 → 4.09 2024-06-01 CBO U.S. 10-year Treasury yield, 2026 Q1 4.125 → 3.766 2024-06-01 CBO U.S. 10-year Treasury yield, 2026 Q2 4.006 → 3.687 2024-06-01 CBO U.S. 10-year Treasury yield, 2026 Q3 3.862 → 3.621 2024-06-01 CBO U.S. 10-year Treasury yield, 2026 Q4 3.739 → 3.576 2024-06-01 CBO U.S. 10-year Treasury yield, 2026 full year 3.933 → 3.663 2024-06-01 CBO U.S. 10-year Treasury yield, 2027 Q1 3.741 → 3.578 2024-06-01 CBO U.S. 10-year Treasury yield, 2027 Q2 3.748 → 3.585 2024-06-01 CBO U.S. 10-year Treasury yield, 2027 Q3 3.757 → 3.596 2024-06-01 CBO U.S. 10-year Treasury yield, 2027 Q4 3.771 → 3.611 2024-06-01 CBO U.S. 10-year Treasury yield, 2027 full year 3.754 → 3.593 2024-06-01 CBO U.S. personal consumption growth, 2024 Q2 1.079 → 3.444 2024-06-01 CBO U.S. personal consumption growth, 2024 Q3 1.4 → 2.563 2024-06-01 CBO U.S. personal consumption growth, 2024 Q4 1.538 → 1.455 2024-06-01 CBO U.S. personal consumption growth, 2024 full year 1.633 → 2.735 2024-06-01 CBO U.S. personal consumption growth, 2025 Q1 1.917 → 1.589 2024-06-01 CBO U.S. personal consumption growth, 2025 Q2 1.834 → 1.586 2024-06-01 CBO U.S. personal consumption growth, 2025 Q3 1.814 → 1.46 2024-06-01 CBO U.S. personal consumption growth, 2025 Q4 1.901 → 1.376 2024-06-01 CBO U.S. personal consumption growth, 2025 full year 1.7 → 1.768 2024-06-01 CBO U.S. personal consumption growth, 2026 Q1 1.404 → 0.94 2024-06-01 CBO U.S. personal consumption growth, 2026 Q2 1.621 → 1.206 2024-06-01 CBO U.S. personal consumption growth, 2026 Q3 1.628 → 1.387 2024-06-01 CBO U.S. personal consumption growth, 2026 Q4 1.751 → 1.536 2024-06-01 CBO U.S. personal consumption growth, 2026 full year 1.665 → 1.27 2024-06-01 CBO U.S. personal consumption growth, 2027 Q1 1.953 → 1.404 2024-06-01 CBO U.S. personal consumption growth, 2027 Q2 1.903 → 1.458 2024-06-01 CBO U.S. personal consumption growth, 2027 Q3 2.055 → 1.494 2024-06-01 CBO U.S. personal consumption growth, 2027 Q4 2.103 → 1.545 2024-06-01 CBO U.S. personal consumption growth, 2027 full year 1.867 → 1.445 2024-06-01 CBO West Texas Intermediate crude oil price, 2024 Q2 75.87 → 85.03 2024-06-01 CBO West Texas Intermediate crude oil price, 2024 Q3 75.55 → 82.79 2024-06-01 CBO West Texas Intermediate crude oil price, 2024 Q4 74.86 → 80.88 2024-06-01 CBO West Texas Intermediate crude oil price, 2024 full year 75.45 → 81.56 2024-06-01 CBO West Texas Intermediate crude oil price, 2025 Q1 74.19 → 79.25 2024-06-01 CBO West Texas Intermediate crude oil price, 2025 Q2 73.51 → 77.9 2024-06-01 CBO West Texas Intermediate crude oil price, 2025 Q3 72.86 → 76.8 2024-06-01 CBO West Texas Intermediate crude oil price, 2025 Q4 72.27 → 75.9 2024-06-01 CBO West Texas Intermediate crude oil price, 2025 full year 73.21 → 77.46 2024-06-01 CBO West Texas Intermediate crude oil price, 2026 Q1 71.74 → 75.13 2024-06-01 CBO West Texas Intermediate crude oil price, 2026 Q2 71.26 → 74.46 2024-06-01 CBO West Texas Intermediate crude oil price, 2026 Q3 70.84 → 73.89 2024-06-01 CBO West Texas Intermediate crude oil price, 2026 Q4 70.5 → 73.42 2024-06-01 CBO West Texas Intermediate crude oil price, 2026 full year 71.08 → 74.22 2024-06-01 CBO West Texas Intermediate crude oil price, 2027 Q1 70.24 → 73.05 2024-06-01 CBO West Texas Intermediate crude oil price, 2027 Q2 70.05 → 72.77 2024-06-01 CBO West Texas Intermediate crude oil price, 2027 Q3 69.93 → 72.59 2024-06-01 CBO West Texas Intermediate crude oil price, 2027 Q4 69.87 → 72.48 2024-06-01 CBO West Texas Intermediate crude oil price, 2027 full year 70.02 → 72.72 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2024 Q2 5.007 → 5.24 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2024 Q3 4.735 → 5.195 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2024 Q4 4.471 → 5.116 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2024 full year 4.862 → 5.196 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2025 Q1 4.212 → 4.927 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2025 Q2 3.958 → 4.668 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2025 Q3 3.707 → 4.414 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2025 Q4 3.459 → 4.163 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2025 full year 3.834 → 4.543 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2026 Q1 3.268 → 3.916 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2026 Q2 3.182 → 3.67 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2026 Q3 3.07 → 3.427 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2026 Q4 2.963 → 3.247 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2026 full year 3.121 → 3.565 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2027 Q1 2.904 → 3.162 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2027 Q2 2.771 → 3.077 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2027 Q3 2.717 → 3.006 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2027 Q4 2.715 → 2.946 2024-06-01 CBO U.S. 3-month Treasury bill rate, 2027 full year 2.777 → 3.048 2024-06-01 CBO U.S. labor force participation rate, 2024 Q2 62.654 → 62.478 2024-06-01 CBO U.S. labor force participation rate, 2024 Q3 62.597 → 62.412 2024-06-01 CBO U.S. labor force participation rate, 2024 Q4 62.508 → 62.367 2024-06-01 CBO U.S. labor force participation rate, 2024 full year 62.618 → 62.459 2024-06-01 CBO U.S. labor force participation rate, 2025 Q1 62.519 → 62.322 2024-06-01 CBO U.S. labor force participation rate, 2025 Q2 62.49 → 62.271 2024-06-01 CBO U.S. labor force participation rate, 2025 Q3 62.469 → 62.229 2024-06-01 CBO U.S. labor force participation rate, 2025 Q4 62.412 → 62.191 2024-06-01 CBO U.S. labor force participation rate, 2025 full year 62.473 → 62.253 2024-06-01 CBO U.S. labor force participation rate, 2026 Q1 62.404 → 62.143 2024-06-01 CBO U.S. labor force participation rate, 2026 Q2 62.357 → 62.099 2024-06-01 CBO U.S. labor force participation rate, 2026 Q3 62.315 → 62.059 2024-06-01 CBO U.S. labor force participation rate, 2026 Q4 62.275 → 62.021 2024-06-01 CBO U.S. labor force participation rate, 2026 full year 62.338 → 62.081 2024-06-01 CBO U.S. labor force participation rate, 2027 Q1 62.242 → 61.986 2024-06-01 CBO U.S. labor force participation rate, 2027 Q2 62.212 → 61.951 2024-06-01 CBO U.S. labor force participation rate, 2027 Q3 62.182 → 61.918 2024-06-01 CBO U.S. labor force participation rate, 2027 Q4 62.152 → 61.887 2024-06-01 CBO U.S. labor force participation rate, 2027 full year 62.197 → 61.936 2024-06-01 CBO U.S. employment cost index growth, 2024 full year 3.875 → 4.138 2024-06-01 CBO U.S. employment cost index growth, 2025 full year 3.478 → 3.707 2024-06-01 CBO U.S. employment cost index growth, 2026 full year 3.33 → 3.388 2024-06-01 CBO U.S. employment cost index growth, 2027 full year 3.164 → 3.222 2024-06-01 CBO U.S. nonfarm productivity growth, 2024 Q2 1.241 → 2.141 2024-06-01 CBO U.S. nonfarm productivity growth, 2024 Q3 2.032 → 1.671 2024-06-01 CBO U.S. nonfarm productivity growth, 2024 Q4 2.036 → 1.591 2024-06-01 CBO U.S. nonfarm productivity growth, 2024 full year 1.574 → 2.205 2024-06-01 CBO U.S. nonfarm productivity growth, 2025 Q1 1.119 → 1.777 2024-06-01 CBO U.S. nonfarm productivity growth, 2025 Q2 1.449 → 1.903 2024-06-01 CBO U.S. nonfarm productivity growth, 2025 Q3 1.26 → 1.682 2024-06-01 CBO U.S. nonfarm productivity growth, 2025 Q4 1.689 → 1.612 2024-06-01 CBO U.S. nonfarm productivity growth, 2025 full year 1.527 → 1.753 2024-06-01 CBO U.S. nonfarm productivity growth, 2026 Q1 1.532 → 1.631 2024-06-01 CBO U.S. nonfarm productivity growth, 2026 Q2 1.926 → 1.519 2024-06-01 CBO U.S. nonfarm productivity growth, 2026 Q3 1.971 → 1.681 2024-06-01 CBO U.S. nonfarm productivity growth, 2026 Q4 1.981 → 1.707 2024-06-01 CBO U.S. nonfarm productivity growth, 2026 full year 1.679 → 1.641 2024-06-01 CBO U.S. nonfarm productivity growth, 2027 Q1 2.03 → 1.604 2024-06-01 CBO U.S. nonfarm productivity growth, 2027 Q2 2.018 → 1.525 2024-06-01 CBO U.S. nonfarm productivity growth, 2027 Q3 2.066 → 1.537 2024-06-01 CBO U.S. nonfarm productivity growth, 2027 Q4 2.121 → 1.529 2024-06-01 CBO U.S. nonfarm productivity growth, 2027 full year 2.015 → 1.6 2024-06-01 CBO Henry Hub natural gas price, 2024 Q2 2.72 → 1.79 2024-06-01 CBO Henry Hub natural gas price, 2024 Q3 3.01 → 2.41 2024-06-01 CBO Henry Hub natural gas price, 2024 Q4 3.51 → 3.0 2024-06-01 CBO Henry Hub natural gas price, 2024 full year 3.01 → 2.33 2024-06-01 CBO Henry Hub natural gas price, 2025 Q1 4.07 → 3.54 2024-06-01 CBO Henry Hub natural gas price, 2025 Q2 3.51 → 3.15 2024-06-01 CBO Henry Hub natural gas price, 2025 Q3 3.74 → 3.48 2024-06-01 CBO Henry Hub natural gas price, 2025 Q4 4.16 → 3.9 2024-06-01 CBO Henry Hub natural gas price, 2025 full year 3.87 → 3.52 2024-06-01 CBO Henry Hub natural gas price, 2026 Q1 4.52 → 4.25 2024-06-01 CBO Henry Hub natural gas price, 2026 Q2 3.59 → 3.52 2024-06-01 CBO Henry Hub natural gas price, 2026 Q3 3.8 → 3.83 2024-06-01 CBO Henry Hub natural gas price, 2026 Q4 4.2 → 4.23 2024-06-01 CBO Henry Hub natural gas price, 2026 full year 4.03 → 3.96 2024-06-01 CBO Henry Hub natural gas price, 2027 Q1 4.5 → 4.52 2024-06-01 CBO Henry Hub natural gas price, 2027 Q2 3.51 → 3.55 2024-06-01 CBO Henry Hub natural gas price, 2027 Q3 3.72 → 3.84 2024-06-01 CBO Henry Hub natural gas price, 2027 Q4 4.14 → 4.25 2024-06-01 CBO Henry Hub natural gas price, 2027 full year 3.97 → 4.04 Forecasts by report date 5 institutions / Annual growth
1.00% 1.88% 2.30% CONSENSUS MAY 25 JAN 26 SEPT 26 Fannie Mae · 2.0 · 2026-09-11 EIA · 2.1 · 2026-09-09 EIA · 2.0 · 2026-08-11 EIA · 2.1 · 2026-07-07 Deloitte · 2.0% · 2026-07-01 IMF · 2.3 · 2026-04-08 Morgan Stanley · 1% in 2026 · 2025-05-28 Morgan Stanley 1% in 2026 Emphasised Other institutions Consensus
Institution Reported Forecast Fannie Mae “| Gross Domestic Product | -0.6 | 3.8 | 4.4 | 0.5 | 2.1 | 1.5 | 2.4 | 2.1 | 2.3 | 2.6 | 2.5 | 2.5 | 2.0 | 2.0 | 2.5 |” 2026-09-11 2.0 U.S. Energy Information Administration “| U.S. GDP <br>(percentage change) | 2.8 | 2.1 | 2.1 | 2.4 |” 2026-09-09 2.1 U.S. Energy Information Administration “| U.S. GDP <br>(percentage change) | 2.8 | 2.1 | 2.0 | 2.4 |” 2026-08-11 2.0 U.S. Energy Information Administration “| U.S. GDP <br>(percentage change) | 2.8 | 2.1 | 2.1 | 2.3 |” 2026-07-07 2.1 Deloitte “Real GDP is still expected to grow by a healthy 2.0% in 2026, before slipping to 1.8% in 2027, when consumer spending is on a more sustainable footing and AI-related investment growth moderates a bit.” 2026-07-01 2.0% International Monetary Fund “{"indicator":"NGDP_RPCH","area":"USA","year":"2026","value":2.3}” 2026-04-08 2.3 Morgan Stanley “After growing 2.8% in 2024 (2.5% 4Q/4Q), U.S. economic growth is likely to slow to 1.5% (1% 4Q/4Q) this year and 1% in 2026.” 2025-05-28 1% in 2026
Readout Consensus 1.88% Spread +1.30% Low 1.00% High 2.30% Reporting 5 Basis Annual growth