The latest forecasts for the United States are for GDP growth of around 4.5 per cent in 2004 and 4 per cent in 2005. Inflation will remain low. The consequence is a positive forecast for the world economy in the next two years.
The acceleration in economic activity, under way since the middle of 2003, and the continuation of rapid growth in 2004 and 2005 are based on the recouping off of an initial situation of production below capacity. The estimates of potential GDP growth in the United States for the next five years range between 3.2 and 3.5 per cent annually, depending on the source.