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Forecasters Peg Recession Likelihood, Gauge Equity Valuations in Survey

For release: May 18, 2001
Contact: Marilyn Wimp (215) 574-4197

The Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters (SPF) will be released at 10 a.m., EDT, Monday, May 21, and distributed on this web site and over PR Newswire.

Conducted quarterly by the Philadelphia Fed's Research Department, the SPF surveys more than 30 professional forecasters on their predictions for long-term inflation expectations, unemployment, CPI, interest rates, real GDP, government spending, net exports, and other economic variables.

Is a recession in the cards? This quarter, forecasters assess the likelihood of a recession this year and next. Forecasters also look at the relationship between the overall value of stock prices and economic fundamentals. View the survey results Monday, at http://www.philadelphiafed.org/econ/spf/index.html. For an interview with one of the Bank's economists about the survey, contact Marilyn Wimp at (215) 574-4197 before the release.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey and Delaware by supplying cash to these banks and thrifts, supervising them, wiring money and securities nationwide, collecting and processing about 4.6 million checks daily, as well as participating in the broader objective of setting monetary policy.

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Media Contacts

Marilyn Wimp, ABC E-mail
Manager of Media Relations
(215) 574-4197
(267) 254-4555 (cell)

Daneil Mazone E-mail
Media Relations Representative
(215) 574-7163
(267) 535-1808 (cell)