A group of top economists has cut their forecast for U.S. economic growth in the fourth quarter and for 2021, the National Association for Business Economics...
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Economists cut their forecast for October-December growth to a 4.9% annual rate from their prior estimate in June of a 6.8% rate.
For all of this year, the economy will contract by a 4.3% annual rate.
The median forecast for real GDP growth for 2021 was lowered to a 3.6% annual rate, compared with a 4.8% rate forecast in the last survey in June.
Slower growth will make it harder for unemployed workers to find new jobs.
According to the survey, more than half of the economists think that between 10%-20% of jobs lost during the pandemic won’t come back.