February 2, 2021
CBO updates 10-year economic forecast
The Congressional Budget Office published an update to its 10-year economic forecast yesterday, projecting that US GDP will return to pre-coronavirus levels in 2021 but that unemployment rates will remain elevated until 2024. The revised estimates represent an improvement from last year’s projections, with the CBO noting that the coronavirus-driven downturn was “not as severe as expected” and that the first stage of the recovery took place faster (and stronger) than expected. Here’s the full report.