Market Insider

Wall Street economists aren't buying into Trump's big growth outlook

VIDEO3:4403:44
Economists skeptical of Trump's growth forecast

Many of Wall Street's top economists aren't seeing the booming growth that President-elect Donald Trump expects from his administration's policies.

A CNBC survey of 13 top Wall Street economists finds the average forecast for next year rising from an estimated 1.7 percent this year to just 2.3 percent next year, and to 2.5 percent in 2018. That's below what candidate Trump said his economic plans could generate when he unveiled them in September.

"We are looking at 3 percent, but we think it could be 5 or even 6," the president-elect said.

The reasons economists don't agree with the strong growth forecasts range from simply not having enough detail to model the effects, to the belief that Trump will get only a portion of what he's proposing from Republicans in Congress.