According to a Reuters poll of economists, the US economic growth slows in the coming quarters and reaches the pre-COVID-19 trajectory in one year.
Outstanding results:
In response to an additional question, nearly two-thirds of economists, or 43 out of 69, said that the US GDP would reach pre-COVID-19 levels in one year. Twenty-one said two years from now and five said two or more years. “
“The larger survey showed that Q3 GDP is expected to remain unrevised at a record 33.1% when final data is released later this month, after contracting at an annualized rate of 31.4% in the second quarter. “
“For the first quarter, the consensus was down to 2.5% growth from 3.0% last month, and nearly 11% of those surveyed forecast the economy would contract in the first quarter. It was expected to expand 3.8%, 3.9% and 3.4% in the following quarters of 2021, compared to the 3.5%, 3.5% and 3.2% forecast, respectively, last month. “
“It is predicted that The world’s largest economy will contract 3.6% this year and then grow 3.9% next year and 3.1% in 2022“.
Still, only 21% of 43 economists responding to a separate question expected the Federal Reserve to announce more stimulus at its December meeting. Thirteen economists said the Fed would change its policy soon in 2021, six said in 2022 and 15 said in 2023. “
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