Lockhart: Consumers Cast Doubt on Economic Forecast

The transcript discusses economic indicators, focusing on consumer and business investment trends. It highlights the impact of consumer activity on GDP and evaluates forecasts for economic growth. The analysis suggests a reversion to normal consumer growth, casting doubt on initial forecasts.

What was the initial economic growth forecast based on consumer spending?

• 3% to 3.5%

• 2% to 2.5%

• 0.3% to 0.5%

• 1% to 1.5%

Which of the following factors contributed to the economic slowdown?

• Increased oil and gas investments

• Strong retail sales

• Weak consumer numbers and business investment

• High auto sales

What was the impact of weak consumer spending on the GDP forecast?

• It slightly increased the forecast

• It was the biggest hit to the forecast

• It improved the forecast

• It had no impact

What does the speaker conclude about the recent consumer growth trends?

• They are irrelevant to the forecast

• They indicate a reversion to normal growth levels

• They are an anomaly

• They suggest unprecedented growth

How does the speaker view the consumer growth from 2014 to mid-2015?

• As a period of normal growth

• As a period of decline

• As a spurt in growth

• As irrelevant to current trends