General World News

US GDP growth will likely miss a key forecast if the global economy falters, Dallas Fed says

US Mall coronavirus

Summary List Placement

The US economic recovery hinges a great deal on how the rest of the world rebounds, according to researchers at the Federal Reserve Bank of Dallas.

For the moment, the US is expected to fully recover from its virus-induced downturn by the end of the year. The nonpartisan Congressional Budget Office projects gross domestic product will expand by 4.6% in 2021, offsetting the 3.4% contraction seen in 2020.

Yet global risks could drag US growth below the baseline forecast, Fed researchers Jarod Coulter and Enrique Martínez-Garćia said in a study published Tuesday. A model of cross-country details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com