U.S. Outlook Economic Forecast
This quarterly report focuses on the latest economic developments in the U.S. economy, tracking trends in labour, consumer, energy and housing markets, and examining industries and regions. Monetary and fiscal policy assumptions are also included.
The U.S. economy is starting to emerge from the devastation created by the COVID-19 pandemic.
While we estimate that real GDP dropped by more than 30 per cent in the second quarter of this year, most of the damage occurred in April, and there are signs that the economy started to turn around in May, including a surprising increase in employment following the shocking loss of almost 21 million jobs in April.