The IMF raised its growth forecast for advanced economies and lowered its outlook for developing nations, blaming uneven vaccine access for the gap.
GDP growth is expected to be the strongest since 1984 this year. But on a quarterly basis, June will mark the peak of faster growth, the bank said.
The global economy is set to grow 5.6% in 2021, but developing economies are falling behind due to slow vaccination, rising cases, and debt pressures.
Biden's budget forecasts a boom lasting just two years, shorter than previous recoveries and out of step with many investment banks' projections.
April payroll growth will hit 2.1 million, Jefferies Chief Economist Aneta Markowska said. That's 800,000 more jobs than the next top forecast.
While Fitch's forecast calls for the fastest growth in decades, it's lower than estimates from Goldman Sachs, Morgan Stanley, and the Federal Reserve.
The central bank's policymakers now see 2021 GDP growth landing at 6.5%, well above the prior estimate of 4.2% expansion.
The US economy is set for “stellar” economic growth in 2021, Bank of America said in a note on Monday. The bank increased its 2021 US GDP growth estimate to 6.5% from 6.0% as it has become “more convinced” that the economy is set for a rebound after the COVID-19 […]
"The goods side of the economy is still riding high while the services side is waiting with bated breath to participate," Bank of America said.
While the economy is “very likely” to have a good year in 2021, stock prices may not repeat their record-shattering performance of 2020 as a V-shaped recovery has already been priced into the market, said Morgan Stanley’s Mike Wilson. The chief investment officer explained that the stock market is a […]
A record amount of money flowed into stocks during the last two months of 2020, and massive inflows could continue in 2021, said a team of Deutsche Bank strategists. In November and December, $US190 billion flowed into ETFs and mutual funds, the highest amount on record in dollar terms. The […]
Goldman Sachs cut its forecasts for the UK economy, predicting a double-dip recession in the first quarter of 2021, after the imposition of a new national lockdown. “Given the return to nationwide lockdown, we now expect a 1.5% contraction in real GDP in Q1, putting the UK economy into a […]
Goldman Sachs has upgraded its outlook for the US economy this year, after the Democrats won control of the Senate, which increases the likelihood of more fiscal stimulus early on to combat the fallout from the coronavirus pandemic. In a tight run-off election on Wednesday, Raphael Warnock and Jon Ossoff […]
Leuthold Group’s Jim Paulsen told CNBC on Tuesday he expects US gross domestic product to grow 6% in 2021 in a “banner year” for the economy. The chief investment strategist explained that several pandemic relief policies that were implemented in 2020 won’t take effect until 2021. This impact â€” coupled […]
The US economy could be set for a surge in growth as consumers start to spend the money they saved during the COVID-19 pandemic, according to The Leuthold Group. When the personal-savings rate has been this high in the past, economic growth has surged, according to historical data from Leuthold. […]
Nobel prize-winning economist Paul Krugman told CNBC on Thursday that the US still needs several hundred billion dollars a month to repair the economy as coronavirus cases continue to surge. “We’re still 11 million jobs down from where we were before this thing hit and all of those people are […]
Former Fed Chair Alan Greenspan told Bloomberg that the US is entering a period of slowing economic growth due to a decrease in productivity. The ageing of the population and an increase in social security benefits is contributing to this productivity slowdown, he said. “I’m very much concerned about this […]