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Here’s Northwood’s latest economic outlook

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As the U.S. economy begins the second quarter 2021, there are many signs indicating economic optimism and continued growth for the U.S. economy. However, there are also numerous indicators that raise great concern relative to the debate over COVID-19 and current and future economic policy in the U.S. and globally.

Recently the International Monetary Fund (IMF) increased its growth prediction for the U.S. and global economies calling for the U.S. to grow at more than 6% annually in 2021 while leading the global economy out of the depths of the 2020 COVID-19 recession. Just last week, the Atlanta Federal Reserve Bank predicted U.S. GDP would come in at 8.2% for the first quarter of 2021, with consumer price inflation averaging 1.8% for 2021 and business inflation slightly higher at 2.5% for the year.

Positive and negative signs

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