With Covid-19 cases stabilizing and Democrats oiling the tracks to pass large parts of President Joe Biden's $1.9 trillion stimulus plan—even without Republican support—economists are raising their 2021 economic growth forecasts.
In the latest survey of economists by Bloomberg News, expectations for gross domestic product (GDP) growth increased for the current three-month period and for every subsequent quarter through mid-2022. Economic growth this year is projected to be the strongest since 1984.
GDP is expected to rise an annualized 5.6 percent in the second quarter and 6.2 percent in the third—both 1.6 percentage points stronger than January estimates, according to the median forecasts in a survey of 76 economists conducted February 5 through 10.
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