Bank of America no longer expect a US recession – upgrade their outlook to ‘soft landing’ | Forexlive

Bank of America revised their forecasts fo the US economy and now see slow growth ahead instead of a recession.

“We revise our outlook for the US economy in favor of a soft landing, where growth falls below trend in 2024, but remains positive throughout our forecast horizon”
“Recent incoming data has made us reassess our prior view that a mild recession in 2024 is the most likely outcome for the US economy”
“Growth in economic activity over the past three quarters has averaged 2.3%, the unemployment rate has remained near all-time lows, and wage and price pressures are moving in the right direction, albeit gradually”

Forecasts U.S. GDP growth of