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Forecasters Post Views on Timing, Strength of Economic Recovery in Philly Fed Survey

For release: February 21, 2002
Contact: Kathy Woodbury, (215) 574-4119

Is the recession over? When the economy does rebound, how strong will the recovery be? Professional forecasters register their views in terms of consumer spending, business spending, and real GDP for this year and into 2003.

Find out what professional forecasters have to say on these fronts when the Federal Reserve Bank of Philadelphia releases its Survey of Professional Forecasters (SPF) at 10 a.m., EST, Friday, Feb. 22. The survey will be distributed on the Bank's web site at http://www.philadelphiafed.org/econ/spf/index.html.

What do the forecasters have to say about the long-term prospects for the economy? Each quarter, the Philadelphia Fed's Research Department 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. For an interview with one of the Bank's economists about the survey, contact Kathy Woodbury at (215) 574-4119 before the release.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware. The Bank supplies cash to these banks and thrifts, supervises them, wires money and securities nationwide, collects and processes nearly 5 million checks daily, as well as participates in 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)