FILE PHOTO: A LB Steel LLC's employee manufactures a component for new Amtrak Acela trains built in partnership with Alstom in Harvey, Illinois, U.S. December 4, 2019. REUTERS/Kamil Krzaczynski


U.S. economy to grow 4.6% in 2021, slow by end of decade, CBO says

By Reuters | Posted - Feb. 1, 2021 at 3:22 p.m.

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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)

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