Economy Watch: US View–October 2021

As the Delta Wave Fades the US Economy Should Closeout 2021 on Strong Footing

Document Highlights

The Conference Board forecasts that the US economy will grow by 3.5 percent (annual rate) in Q3 2021 and 5.2 percent (annual rate) in Q4 2021. Year-over-year growth should reach 5.7 percent in 2021 and 3.8 percent in 2022. In the short-term, US consumption of services should strengthen as the threat of the global pandemic gradually fades. Finally, year-over-year inflation recently hit a 30 year high, but month-over-month price increases should moderate in the near term.