Economic Outlook March 2012 Economic Policy Division

Real GDP Outlook

U.S. GDP Actual and Potential Quarterly, Q to Q Real GDP Trillion 2005 Dollars Log Scale $5.2- $11.5- $7.7- $4.2- $14.0- $9.4- $6.3- Forecast

Real Personal Consumption Expenditures Real Disposable Income Per Capita Household Wealth Personal Consumption Outlook

Consumer Debt Service Household Liabilities Household Assets Household Balance Sheet

Net National Savings Net National Savings Rate Savings Components

Housing Market Trends Housing Starts Median Home Prices Housing Inventory Home Sales

Housing Market Trends Mortgage Delinquency Rates Mortgage Foreclosure Rates Housing Affordability Index

Investment Real Private Investment in Equipment & Software Real Private Investment - Structures Real Change in Private Inventories

Sector Indicators ATA Truck Tonnage Index Total Rail Carloadings Boxboard Production

U.S. Trade Real Net Exports of Goods and Services U.S. Nominal Trade Weighted Exchange Rate

Labor Market Total Nonfarm Jobs Initial Unemployment Claims Unemployment Rate January: 8.3 percent Household Employment

Civilian Participation Rate Duration of Unemployment Part-time for Economic Reasons Discouraged Workers Labor Market

Labor Participation Rates (by age class, population shares) 16%

Inflation Consumer Price Index Core Consumer Price Index

Spot Market Price Index: All Commodities Spot Market Price Index: Metals

Interest Rates & Spreads Risk Spread Moody's Seasoned Baa Corporate Bond Yield Minus Moody's Seasoned Aaa Corporate Bond Yield 10-Year Treasury Note Yield 3-Month Treasury Note Yield TED Spread 3-Month LIBOR Minus 3- Month Treasury

Fed Policy Bank Assets and Liabilities

Delinquency Rates at Commercial Banks Consumer Credit Outstanding Domestic Bank Lending Home Equity Loans

Deficit to GDP CBO’s Baseline Deficit (January 2012)

Alternative Deficit Forecasts Forecast Budget Deficit Forecast

Government Baseline Debt (CBO’s Baseline – January 2012)

Alternative Debt Forecasts Forecast

Government Revenues and Outlays ( percent of GDP) Source: CBO Baseline (January 2012)