(Reuters) – BofA Global Research on Wednesday raised its 2023 economic growth outlook for the United States, saying incoming data signaled a “soft landing”.
BofA now expects real gross domestic product growing 2.0% on average this year, up from a previous forecast of 1.5%.
Data last week showed the U.S. economy grew faster than expected in the second quarter as a resilient labor market supported consumer spending, while businesses boosted investment in equipment and built more factories.
(Reporting by Priyadarshini Basu; Editing by Shounak Dasgupta)
