Chart: How Wall Street got 2023 all wrong
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.
- It never happened, as we saw in Thursday's "gangbuster" GDP report.
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.