CBO Provides Comparative Study of May 2020 Interim Projections of GDP & its January 2020 Baseline Projections

  • Jun 02, 2020 AEST
  • Team Kalkine

Congressional Budget Office (CBO) has published a report which shows comparative study of May 2020 Interim forecasts of gross domestic product and its January 2020 baseline forecasts.

In May 2020 Report, CBO projected that the level of nominal GDP in the Q2 2020 would be US$790 billion lower than the prediction of the agency during January 2020 because of the economic effects of the COVID-19 pandemic in falling output & the legislation enacted between January and early May in response, which partly offsets that reduction.

Thus, the difference between those projections of nominal GDP reduces from US$533 billion by 2020 end to US$181 billion by 2030.



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