The Trump administration official still expects GDP to grow 2.5% through the year, while economists surveyed by Bloomberg project a 1.8% gain.
737 Max debacle could cut US gross domestic product by 0.5 percentage points in 2020, Treasury Secretary Steven Mnuchin said Sunday.
Mnuchin’s GDP expectation is more optimistic than those put forth by many on Wall Street. Economists surveyed byin January expect yearly GDP growth to land at 1.8%, down from 2.3% in 2019. Respondents also peg the odds of a recession in the next year at 30%.
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