Us Economy 2024 Outlook Us2. Cbo is now projecting a lower average rate of economic growth from 2024 to 2027 than it did last february (2.0 percent a year versus 2.4 percent), largely because of slower projected growth in sectors of the economy that are. We project that consumer spending will grow around 2.5% this year reflecting strong momentum at the start of the year, following a 2.2% advance in 2023.
However, risks like geopolitical tensions and persistently high inflation remain. The q3 2024 forecast indicates how robust consumer spending, high business investment, and lower interest rates have kept optimism about the us economy intact.