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CoBank Releases 2021 Year Ahead Report – Forces That Will Shape the U.S. Rural Economy
COVID-19 vaccine brings optimism for a brighter and more prosperous year ahead, but significant economic recovery unlikely before mid-year
DENVER, Dec. 17, 2020 (GLOBE NEWSWIRE) The speed of the economic recovery will largely hinge on the availability, dissemination and reach of COVID-19 vaccines, pushing the expected burst of pent-up consumer demand into the latter half of 2021, according to a comprehensive year-ahead outlook report from CoBank’s Knowledge Exchange division.
“The coming year will be a recovery year for most Americans and the businesses that make up the U.S. economy,” said Dan Kowalski, vice president of CoBank’s Knowledge Exchange division. “The early part of the year should look very different than the latter, but in total, economic growth is estimated to be about 4%, following a retreat of roughly 4% in 2020.”