US 2021 Growth Seen at 4.6% After 2020 Contraction of 3.5% - Congressional Budget Office
US economic growth is expected to rebound to 4.6 percent in 2021 from an estimated contraction of 3.5 percent in 2020 caused by the coronavirus pandemic, the Congressional Budget Office (CBO) said on Monday
WASHINGTON (Pakistan Point News / Sputnik - 01st February, 2021) US economic growth is expected to rebound to 4.6 percent in 2021 from an estimated contraction of 3.5 percent in 2020 caused by the coronavirus pandemic, the Congressional Budget Office (CBO) said on Monday.
"Over the course of the coming year, vaccination is expected to greatly reduce the number of new cases of COVID-19, the disease caused by the coronavirus. In its new economic forecast, which covers the period from 2021 to 2031, the Congressional Budget Office therefore projects that the economic expansion that began in mid-2020 will continue," the CBO said in a report that forecast the 4.6 percent growth for 2021 after last year's estimated contraction of 3.5 percent.