100 expert economists interviewed by Reuters announced that the US economy will grow this year. At the same time, the coronavirus is still having a large negative impact on the country’s finances.
According to a survey of 100 economists, conducted April 16-20, economic activity will grow due to the already adopted stimulus of $ 1.9 trillion, as well as the $ 2 trillion infrastructure development plan proposed by US President Joe Biden.
The world’s largest economy is projected to grow by an average of 6.2% in 2021, the fastest growth since the polls began more than two years ago. If this level of growth is realized, it will be the fastest annual economic expansion since 1984.
While the IMF’s latest 6.4% growth forecast was slightly above the consensus forecast in the Reuters poll, about 15% of 105 economists believe the US economy will grow 7% or more in 2021, with a range of forecasts showing higher highs. and lower lows compared to last month.
Nearly 70% of economists said the biggest risk to the economy is the rise in coronavirus incidence over the next three months.
While the US economy is projected to return to pre-crisis levels in 2021, the recovery in employment is expected to take more than a year, according to most of those who answered a separate question.
At the same time, the core PCE index – the indicator that the Fed prefers to use to measure inflation – is expected to be at 2% this year and next, and more than 90% of almost 50 economists said that the risks are tilted upward.
According to the financial platform Pocket Option, some Internet businesses have increased their profits due to the coronavirus. For example, online cinemas, social networks, bookmakers.