Economic projections for 2001 and 2002
Percent  
table rule
  Board of Governors
and Reserve Bank presidents
Indicator
 Range
 Central tendency
2001
  
Change, fourth quarter
to fourth quarter1		    
Nominal GDP 3-1/4 to 5 3-1/2 to 4-1/4
Real GDP2 1 to 2 1-1/4 to 2
PCE prices 2 to 2-3/4 2 to 2-1/2

Average level,
fourth quarter
    
Civilian unemployment
    rate		 4-3/4 to 5 4-3/4 to 5
 
  
2002
  
Change, fourth quarter
to fourth quarter1		    
Nominal GDP 4-3/4 to 6 5 to 5-1/2
Real GDP2 3 to 3-1/2 3 to 3-1/4
PCE prices 1-1/2 to 3 1-3/4 to 2-1/2

Average level,
fourth quarter
    
Civilian unemployment
    rate		 4-3/4 to 5-1/2 4-3/4 to 5-1/4
table rule

          1.  Change from average for fourth quarter of previous year to average for fourth quarter
of year indicated.
          2.  Chain-weighted.

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