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We have revised our GDP growth forecast downward relative to our April projection. However, the Q3 update remains only slightly below the interim forecast published in June at the headline level. As with our recent updates, the forecast continues to face an unusually high level of uncertainty and risk. Unfortunately, many of these factors are expected to persist throughout the remainder of the forecast period. A more detailed explanation of the underlying narrative and forecast figures will be provided in Economic Prospects, to be released later this week.
