2021 Annual Economic Outlook

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Dec 16, 2020

2021 Annual Economic Outlook

Aftershocks and divergence in the post-pandemic economy 

The longest U.S. economic expansion since the end of the Second World War came to an abrupt end earlier this year as the COVID pandemic essentially shut down the economy. Following an unprecedented plunge in Q2-2020—real GDP nosedived at an annualized rate of 31.4%—economic activity rebounded sharply in the third quarter. But the shocks of the pandemic continue to reverberate throughout the economy as renewed surges in COVID case counts have led some local officials to reimpose some restrictions. Furthermore, voluntary decisions by individuals and businesses to follow guidelines regarding socially-distanced behavior have led to weakness in some sectors of the economy. Most foreign economies, which have experienced their own outbreaks of COVID cases, have also been rocked by the pandemic.




This Week's State Of The Economy - What Is Ahead? - 04 June 2021

The CDC\'s relaxation of its mask mandate occurred mid-May, and as data for that month begins rolling in this week, it is evident there is no lack of demand. Supplies, on the other hand, are a worsening problem.

25 January 2021 Economic Outlook Report

In the second installment of our series on economic risks in the foreseeable future, we analyze the potential for higher inflation in coming years stemming from excess demand.

This Week's State Of The Economy - What Is Ahead? - 13 March 2020

Financial conditions tightened sharply this week as concerns over the coronavirus and the economic fallout of containment efforts mounted.

June 2020 Economy At A Glance

The Fed expects to hold interest rates near zero through the end of this year, perhaps well into next year, and maybe even into ’22.

This Week's State Of The Economy - What Is Ahead? - 23 September 2020

European activity is surging. Germany and Italy are leading the way, but France is close behind despite an ongoing rise in cases. The Google data are a bit outdated, but are hard to reconcile with today’s weak Eurozone services PMI figures.

This Week's State Of The Economy - What Is Ahead? - 18 October 2019

Personal consumption is still on track for a solid Q3, but retail sales declined in September for the first time in seven months.

This Week's State Of The Economy - What Is Ahead? - 09 October 2020

Weekly first time unemployment claims highlighted an extraordinarily slow week for economic news. Jobless claims fell slightly but continuing claims fell by one million.

This Week's State Of The Economy - What Is Ahead? - 14 October 2020

The global mobility playing field is equalizing. Major European countries such as Germany and France have seen a slowdown in recent weeks, leaving them right in line with the United States relative to the January baseline.

This Week's State Of The Economy - What Is Ahead? - 12 August 2020

The consumer has been a bright spot in the recovery so far, but with jobless benefits in flux and no clear path for the long-awaited stimulus bill, the support here could fade.

This Week's State Of The Economy - What Is Ahead? - 11 December 2020

Emergency authorization of the Pfizer-BioNTech COVID vaccine appears imminent, but the virus is running rampant across the United States today, pointing to a grim winter.


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