ARKANSAS, USA — University of Arkansas economist Mervin Jebaraj expects U.S. GDP to rise for the remainder of the year following a 1.5% decline in the first quarter amid high inflation pressure that might last for two years.
After GDP rose by 5.7% in 2021, it fell 1.5% in the first quarter. According to Jebaraj, GDP is expected to increase by 3% in the second quarter, 2.5% in the third quarter, and 2% in the fourth quarter.
On Friday (May 27), Jebaraj presented an economic forecast during the Quarterly Business Analysis Luncheon at Hilton Garden Inn in Fayetteville. The UA Center for Business and Economist Research (CBER) hosted the event.
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