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Financial News: US Firms' Inflation Expectations Unchanged - Atlanta Fed

US Firms' Inflation Expectations Unchanged - Atlanta Fed Survey

06/20/2024 - 15:35:00 (RTTNews)

(RTTNews) - U.S. business inflation expectations, both short term and longer term, were unchanged in June, results of a survey by the Federal Reserve Bank of Atlanta showed Thursday.

Firms' year-ahead inflation expectations were unchanged at 2.3 percent. Inflation expectations for the next five to 10 years were steady at 2.8 percent.

Businesses' assessment of sales levels and profit margins "compared to normal" was also steady and that on year-on-year unit cost growth was relatively unchanged at 2.8 percent.

Separately, the Atlanta Fed lowered its second quarter economic growth estimate, based on its GDPNow model, to 3.0 percent from 3.1 percent, following the release of housing starts data earlier in the day.

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