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Economists predict further US economic recovery

A survey of 65 economists by The Wall Street Journal indicated that economic sentiment in the United States has improved thanks to information on the successful development of a vaccine for COVID-19, which will further support the country's economic recovery after the presidential election.

According to the survey participants, unemployment is expected to drop to 6.7% by the end of the year, while earlier this figure was expected at 7.8%. Economists also improved their forecast for a decline in GDP this year to 2.7% from 3.6%. They also expect the economy to expand by 3.6% in 2021 and 2.9% in 2022. Survey participants became more optimistic about the prospects for a new stimulus package.

Most economists believe that the volume of incentives should be less than previously assumed. The probability of these measures being taken in the first quarter of next year is estimated at 61%. At the same time, 24% of respondents believe that the package will be adopted after the first three months. The fact that new measures can be introduced before the end of 2020, said 38% of survey participants.

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