Also crossing the wires is the Philly Fed survey of professional forecasters. They see GDP at +2.2% in Q4 from their previous forecast of 2.8% with unemployment steady at 9.6%. Payrolls will grow an average 86k/mo, the survey says while core inflation will dip to 1.0% from 1.1% previously. Growth next year will average 2.4% versus an earlier 2.3% forecast. Payrolls will grow 104K per month in 2011, down from a 159k prior forecast.
Slow-going ahead remains the forecast…
