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? - 11 September 2020

In the holiday-shortened week, analysts’ attention remained on the progress of the labor market. Recent jobless claims data remain stubbornly high and point to a slowing jobs rebound.

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

The Federal Reserve announced a series of measures this morning that are intended to assist households, businesses and state & local governments as they cope with the economic fallout of the COVID-19 outbreak.

This Week's State Of The Economy - What Is Ahead? - 13 May 2022

While small business enthusiasm appears to have stalled, as owners are concerned about their ability to continue to pass on higher costs to consumers, cautious enthusiasm around rookie Jeremy Pena’s start persists.

This Week's State Of The Economy - What Is Ahead? - 10 March 2023

Financial markets were looking for validation that January\'s unexpected strength was not a fluke and that the downward slide in economic momentum experienced late last year had stabilized.

July 2020 Economy At A Glance

The recent surge in COVID-19 cases indicates that elected officials re-opened the economy too soon, that too many Americans are flaunting social distancing guidelines, and that the virus is likely to be around longer than we’d hoped.

This Week's State Of The Economy - What Is Ahead? - 05 June 2020

Data this week continued to suggest the U.S. economy hit rock bottom in April. Still, it is a long road to recovery and the pickup in economic activity will be gradual.

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

The combination of the election outcome and a workable vaccine boosted financial markets and set the background music for this week’s short list of indicators.

This Week's State Of The Economy - What Is Ahead? - 03 September 2021

e move into the Labor Day weekend celebrating the 235K jobs added in August, while simultaneously lamenting that it was about half a million jobs short of expectations.

This Week's State Of The Economy - What Is Ahead? - 30 October 2020

Real GDP jumped a record 33.1% during Q3, beating expectations. A 40.7% surge in consumer spending drove the gain.

This Week's State Of The Economy - What Is Ahead? - 20 December 2019

President Trump became the third president in U.S. history to be impeached by the House, but removal by the Senate is highly unlikely. The House also passed the USMCA, which should be signed into law in early 2020.


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