July 15 is the due date, but is often missed. So looking back in May, NEC Chair Hassett forecast 5% growth in 2027, on top of rapid 2026 growth forecasted by the Administration. How are things looking with two more quarters of reported growth?

Figure 1: Reported GDP (bold black), Administration’s FY2027 Budget forecast, aka OMB-Treasury-CEA “Troika” (red squares), WSJ April survey mean (blue), SPF median forecast (pink), Hassett 5% growth in 2027 (teal triangle), . Source: BEA, WSJ April survey, Philadelphia Fed, and author’s calculations.

So far, reported is tracking the WSJ April mean forecast.