06142021Mon
Last updateFri, 11 Jun 2021 4pm

Manufacturing & The Economy

Conference Board Predicts Robust Growth in Second Quarter

The Conference Board forecasts that U.S. Real GDP growth will rise to 8.6% (annualized rate) in Q2 2021 and 6.4% (year-over-year) in 2021 Following solid economic growth in Q1 2021 we anticipate further acceleration in growth in Q2 2021 and Q3 2021. The primary driver of this rapid expansion will be a surge in consumer spending as the economy fully reopens. High and increasing vaccination rates and low new COVID-19 case numbers indicate that the reopening process may be complete for much of the country by the end of the summer. Following a robust recovery in 2021, they forecast economic growth of 3.7% (year-over-year) in 2022 and 2.9% (year-over-year) in 2023. 

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