The nation’s top economists forecast that the economy will grow a robust 7.2% in 2021, before easing to a 3.1% growth rate in 2022, according to the American Bankers Association’s Economic Advisory Committee.
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Despite the expansion of the monetary base, inflation forecasts remain conservative because there is still breathing room left for demand growth.
Top economists from the largest U.S. banks anticipate substantial improvement in consumer and business credit market conditions in the next six months, according to American Bankers Association’s Credit Conditions Outlook released today.
The nation’s top bank economists observed that the outlook for credit quality and availability rebounded for both consumers and businesses after bottoming out last summer, according to the American Bankers Association’s new Credit Conditions Outlook released today.
While the economy remains under the influence of the COVID-19 pandemic, the nation’s top bank economists expect the U.S. economy in 2021 to see its strongest growth in about 20 years.
The nation’s top economists forecast that the economy will experience a 6% contraction in 2020, with conditions beginning to recover sometime around the third quarter after a sharp second-quarter decline, according to the American Bankers Association’s Economic Advisory Committee.
However, economists expressed a wide range of views, with little clustering, reflecting the great degree of economic uncertainty of the times.
The nation’s top bank economists forecast continued economic growth that would support job growth and wage gains in 2020 and beyond.
Comerica Bank Chief Economist Robert Dye joins the ABA Banking Journal Podcast for a brief conversation on the economic outlook for the remainder of 2019 and beyond.