Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
U.S. economic growth will rebound to 4.6% in 2021 from a contraction of 3.5% in 2020, powered by a resumption of business activity and coronavirus rescue spending, but growth will taper off to below 2% by the end of the decade, the Congressional Budget Office said on Monday.
The nonpartisan budget referee said its latest forecasts are based on current laws passed by Jan. 12, and do not include any executive actions or stimulus proposals by President Joe Biden's administration.
(Reporting by David Lawder in Chicago; Editing by Paul Simao)
© Copyright Thomson Reuters 2021
