A panel of economists has tempered its expectations for economic growth this year, citing the ongoing threat of the coronavirus, even as it projects that more robust growth will arrive by the end of 2021 and into 2022.
Panelists from the National Association for Business Economics moderated their expectations for economic growth in 2021 downward from 6.7 percent in May to 5.6 percent in the survey published Monday. But the economists boosted their projections from the previous survey for next year, forecasting that U.S. GDP would grow by 3.5 percent, up from 2.8 percent.
The softened outlook highlights the economic damage unleashed by the delta variant of the coronavirus, as the number of new infections in the country remains near levels seen earlier this year. But economists are still optimistic about stronger growth rates in the near future.
