Jan 26, 2024 - Economy

Chart: How Wall Street got 2023 all wrong

Wall Street's changing predictions for 2023 GDP growth
Data: FactSet; Chart: Tory Lysik/Axios Visuals

It's official: We got the soft landing in 2023.

Why it matters: Nearly every economist on and off Wall Street was all but certain that the U.S. would face a sharp slowdown in economic growth last year.

Between the lines: You can see the whipsawing sentiment on growth in the chart above. The consensus forecast for annual GDP growth from Wall Street economists collapsed at the end of 2022, only to rebound as those predictions were continually frustrated.

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