Economists Temper Expectations For GDP Growth In 2021
Sept. 29, 2021
Two-thirds of NABE panelists expect full job market recovery by late 2022.
The National Association for Business Economics (NABE) Outlook indicates panelists have moderated their expectations about the prospects for economic growth in 2021 since the organization’s last survey in May.
“The panel’s view has become more tempered about 2021 as a whole, as its median real GDP growth estimate for 2021 is 5.6%, compared to the 6.7% forecasted in the May 2021 survey,” says NABE President-elect David Altig, executive vice president and director of research, Federal Reserve Bank of Atlanta.
Inflation expectations have reportedly increased significantly since the last survey of the panel of professional forecasters, though the group anticipates inflation will ease in 2022. Pandemic-related topics continue to dominate the downside risk assessment. Two-thirds of survey respondents also expect full job market recovery by late 2022.
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