Aug 3, 2021
SPONSOR
The economy is growing quickly but its future still depends on slowing the coronavirus pandemic as consumers worry about new variants of the virus, National Retail Federation Chief Economist Jack Kleinhenz said today. Meanwhile, a labor shortage and supply chain disruptions are setting the stage for increased inflation.
“We are now in the second half of 2021 and the economy has heated up along with the summer temperatures,” Kleinhenz said. “Gross domestic product surpassed its pre-crisis peak during the second quarter and vigorous growth is expected throughout the rest of the year. It is a very different year from 2020 and a much better one. The economic momentum has been helped by government monetary and fiscal policies and, more importantly, the rollout of COVID-19 vaccinations.”
FinMin estimates 670 mn vaccine doses will be given before festive season
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Rapid vaccination, better health infra needed for durable economic recovery
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FinMin cautions of inflationary risks on rising commodity prices, input costs
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