(AmericanProsperity.com) – Gross Domestic Product (GDP) measures the total value of a country’s products and services during a given year. This year, the United States took quite a hit as COVID-19 forced shutdowns and limited consumer spending, hitting certain industries extra hard. But, investment bankers at Goldman Sachs predict that 2021 will bring our nation a solid recovery for both GDP and our economy as a whole.
Goldman Sachs’ latest report predicts the global GDP will rise 6% in 2021. The first quarter is predicted to bring a 3.5% increase for the US as Americans await additional government aid and the distribution of the coronavirus vaccine. The following quarters are expected to bring higher increases as the pandemic ebbs away.
Morgan Stanley also made predictions for the 2021 GDP:
Morgan Stanley expects US #GDP to reach pre-#Covid19 levels as early as Q2 2021 as a result of addition fiscal #stimulus. Hence, the budget #deficit is expected to hit 24% and 13% of #GDP this year and next. That is just massive. pic.twitter.com/Xkc9uUHDhF
— jeroen blokland (@jsblokland) September 9, 2020
These assessments came after the GDP lept 33% in the third quarter. When we pair the hard-working American spirit with our freedom to innovate, this country is sure to make an incredible comeback in 2021.
~Here’s to Your Prosperity!
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