The White House has cut US growth forecasts. The 4 trillion dollar budget proposal sent this morning by President Barack Obama to Congress states that US GDP should grow by 2,6% both this year and next. It would be the best result since 2005-2006, up even compared to the +2,4% of 2015, however the new projections are worse than those published six months ago: the estimate for 2016 has been lowered by 0,3% and that for 2017 by 0,2%.
The Obama administration's forecasts are more optimistic than those of analysts, who expect growth of 2,5% and 2,4% respectively this year and next, and of the Federal Reserve, which sees growth of 2,4 % in 2016 and 2,2% in 2017.
“Our economy is the strongest in the world,” Obama wrote in the document's introduction. As for unemployment, the White House expects the rate to be 4,7% this year and 4,5% next, before a gradual return to 4,9% over the next ten years. The unemployment rate fell to 4,9% in January, falling below 5% for the first time since February 2008.
