1. Economic projections for 1999 and 2000
Percent  
table rule
  Federal Reserve governors
and Reserve Bank presidents
 
Indicator
Range
Central tendency
Administration1
1999
   
Change, fourth quarter
to fourth quarter
2
   
Nominal GDP4-3/4 to 5-1/2 5 to 5-1/2 4.8
Real GDP3-1/4 to 4 3-1/2 to 3-3/4 3.2
Consumer price index31-3/4 to 2-1/2   2-1/4 to 2-1/2 2.4

Average level,
fourth quarter

   
Civilian unemployment
    rate
4 to 4-1/2 4 to 4-1/4 4.3

   
2000
   
Change, fourth quarter
to fourth quarter
2
   
Nominal GDP4 to 5-1/4 4 to 5 4.2
Real GDP2 to 3-1/2 2-1/2 to 3 2.1
Consumer price index31-1/2 to 2-3/4   2 to 2-1/2 2.4

Average level,
fourth quarter

   
Civilian unemployment
    rate
4 to 4-1/2 4-1/4 to 4-1/2 4.7
table rule

          1.  From the Mid-Session Review of the budget.
          2.  Change from average for fourth quarter of previous year to average for fourth quarter
of year indicated.
          3.  All urban consumers.

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