In June 2011 the Fed's forecast for 2013 GDP was for between 3.5% and 4.2%.
In June 2012 the forecast was reduced to between 2.2% and 2.8%.
And in June 2013 the forecast has narrowed to between 2.3% and 2.6%.
Quarters one and two in 2013 have reported annualized GDP at 1.1% and 2.5% respectively.
Quarter three reports on Thursday for the first time, delayed from late October due to the government shutdown.
The comprehensive revision of GDP going back decades which came out this last summer reported average annual real GDP at 3.3% between 1929 and 2012, and at 3.4% from 1959 to 2002.
Current GDP of 2.5% is therefore running about 24% below the long term trend.
