The nation s business economists have grown much more optimistic about the US economy this year, with a majority predicting that increased vaccinations, stronger job gains and further government aid will accelerate growth to its fastest pace in nearly four decades. A survey being released Monday by the National Association for Business Economics found that its panel expects the economy to expand 6.5 per cent this year. That would be the sharpest such increase since 1984, when the nation was also emerging from a deep recession. The NABE s findings, based on the responses of 49 forecasters earlier this month, sketched a far brighter picture of the economy than its previous such survey, released in March, did.
Survey: Business economists foresee best growth for US in 37 years
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Of NABE’s panelists, 56% believe the economy’s balance of risks are tilted to the positive side; 35% see vaccine-resistant variants of Covid-19 as the biggest risk to their upgraded economic forecast
The nation s business economists have grown much more optimistic about the US economy this year, with a majority predicting that increased vaccinations, stronger job gains and further government aid will accelerate growth to its fastest pace in nearly four decades. A survey being released on Monday by the National Association for Business Economics found that its panel expects the economy to expand 6.5 per cent this year. That would be the sharpest such increase since 1984, when the nation was also emerging from a deep recession.
Data: Investing.com; Chart: Axios VisualsThe latest forecast from the National Association for Business Economics (NABE) released today shows its members largely agree with Atlanta Fed President Raphael Bostic and the U.S. Fed that inflation will moderate even as growth picks up through the rest of the year.The headline numbers: NABE raised its forecast for U.S. GDP this year to increase by 6.5% in 2021 including 8.5% growth in the second quarter.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeIn the survey, 56% of respondents say the risks for economic growth are to the upside, meaning that the economy outpaces expectations, while just 15% say risks are to the downside.In the group's last survey in March, panelists had expected GDP to rise by 5.2%.On jobs: NABE's survey respondents also expect employment gains in 2021 and 2022 to be greater than anticipated in the previous survey.56% of survey respondents anticipate nonfarm
The economy has been showing surprising strength and resilience in its recovery from the devastating pandemic recession.
May 24th, 2021
AP file
WASHINGTON (AP) The nation s business economists have grown much more optimistic about the U.S. economy this year, with a majority predicting that increased vaccinations, stronger job gains and further government aid will accelerate growth to its fastest pace in nearly four decades.
A survey being released Monday by the National Association for Business Economics found that its panel expects the economy to expand 6.5% this year. That would be the sharpest such increase since 1984, when the nation was also emerging from a deep recession.
WASHINGTON Business economists have grown much more optimistic about the U.S. economy this year, with a majority predicting that increased vaccinations, stronger job gains and further government aid will accelerate growth to its fastest pace in nearly four decades. A survey being released Monday by the National Association for Business Economics found that its panel expects the economy to expand 6.5 per cent this year. That would be the sharpest such increase since 1984, when the nation was also emerging from a deep recession. The NABE s findings, based on the responses of 49 forecasters earlier this month, sketched a far brighter picture of the economy than its previous such survey, released in March, did. In that survey, the economists had collectively envisioned growth of just 4.8 per cent this year.