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Feel-Better Situation May Translate Into Higher Household Spending: NRF WASHINGTON (dpa-AFX) - The U.S. economy could witness its fastest growth since 1980s as more businesses reopen and consumers are feeling better now. According to National Retail Federation Chief Economist Jack Kleinhenz, the U.S. economy is on firm footing and could see its fastest growth in more than three decades. Kleinhenz noted several reasons for the economic growth, which according to the May issue of NRF s Monthly Economic Review, is set to be 6.6% this year, the highest level since 7.2% in 1984. While there is a great deal of uncertainty about how fast and far this economy will grow in 2021, surveys show an increase in individuals being vaccinated, more willingness to receive a vaccination, increased spending intentions and comfort with resuming pre-pandemic behaviors like shopping, travel and family gatherings, Kleinhenz said. ....
May 3, 2021 SPONSOR With more businesses reopening and bringing employees back to work, the U.S. economy is on firm footing and could see its fastest growth in more than three decades, National Retail Federation Chief Economist Jack Kleinhenz said today. “While there is a great deal of uncertainty about how fast and far this economy will grow in 2021, surveys show an increase in individuals being vaccinated, more willingness to receive a vaccination, increased spending intentions and comfort with resuming pre-pandemic behaviors like shopping, travel and family gatherings,” Kleinhenz said. “This feel-better situation will likely translate into higher levels of household spending, especially around upcoming holidays like the Fourth of July and spending associated with back-to-work and back-to-school.” ....
Press release content from Business Wire. The AP news staff was not involved in its creation. With ‘Feel-Better Situation’ for Consumers, Economy Could See Fastest Growth Since 1980s May 3, 2021 GMT WASHINGTON (BUSINESS WIRE) May 3, 2021 With more businesses reopening and bringing employees back to work, the U.S. economy is on firm footing and could see its fastest growth in more than three decades, National Retail Federation Chief Economist Jack Kleinhenz said today. “While there is a great deal of uncertainty about how fast and far this economy will grow in 2021, surveys show an increase in individuals being vaccinated, more willingness to receive a vaccination, increased spending intentions and comfort with resuming pre-pandemic behaviors like shopping, travel and family gatherings,” Kleinhenz said. “This feel-better situation will likely translate into higher levels of household spending, especially around upcoming holidays like the Fourth of Jul ....
Retail sales are continuing to see improvements as huge gains were made because of government stimulus checks and more people received vaccinations against the Coronavirus disease. ....