Financial institution of America boosts forecasts
Sturdy Q1 knowledge and impending stimulus is pushing a persuasive case for larger progress.
Economists at Financial institution of America now see 2020 GDP progress at 6.5% this 12 months in comparison with 6.0% a 12 months in the past and 5.0% in 2022 in comparison with 4.5% beforehand.
The Fed’s Kaplan additionally simply hit the wires saying dangers are to the upside for his 5% 2021 GDP forecast.
The primary quarter was speculated to be the stumble due to an increase in covid circumstances however it’s not taking part in out that approach and we now hove Goldman at 6%, MS at 7.5% and JPM at 5% for q/q annualized progress.
The Fed’s composite forecast is 4.2% for this 12 months and the consensus is 4.9%. Given the transfer from BofA, count on extra to comply with.
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