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Healthy Economic Growth Forecast for the USA in 2020

A growing number of US economists have been bullish about increases in 2020

The National Association for Business Economics reported that well over half expected the US gross domestic product (GDP) to increase by 1.1 percent to two percent. A growing number even expected higher increases of up to three percent. The US, Canada, and Mexico came close to a trade agreement, and the stock market finished the year on a high note. The Feds have kept interest rates low, as well. The survey, in January, was given with strong consumer confidence, and a record low unemployment rate.

With the coronavirus crisis felt around the globe, the US government is keeping a close eye on the unemployment rate, and the economy overall. Although the outlook for the first quarter was excellent, the second won’t be so good. Yet some economists are expecting growth to increase by the third quarter of this year, while some think it will be a slow, steady process. Governors have begun to open states, with a push from President Trump. The federal government’s social distancing guidelines expired at the end of last month. Measures to kick-start the economy are in place.

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