Doug Short | Mar 21, 2013 02:03AM ET
Now that Cyprus is on the back burner, at least for the time being, the big news yesterday was the publication of the FOMC minutes along with the Fed's three-year economic projections (2013-2015). Actually, these projections date from the meeting of the Federal Open Market Committee on December 11-12, 2012. In other words, like a lot of government data, they're a bit stale by the time of publication. However, these are slow-moving data series, so time is not exactly of the essence.
Below is a snapshot of a table from the monthly survey of economists on a variety of economic metrics, including of course GDP. Fifty of the 52 economists solicited participated. Here is a look at the range of forecasts for Q1 2013 GDP. I've also highlighted the range of Fed forecasts. I've calculated the median (middle), mean (average) and mode (most frequent). Interestingly enough there were two modes for 2013 GDP on either side of the average.
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