U.S. economic forecast dims, job recovery may reverse

U.S. economic forecast dims, job recovery may reverse

The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of the year.

On an annualized basis, the U.S. economy recorded a 33.8% decline last quarter. Though it is expected to recover with a 17.8% growth in the third quarter, it would still place weaker than the 18.5% growth predicted last month. In addition to this, its 6.5% expansion expected in the following three months would still come lower than the 8.0% prediction.

Thirty-two out of 56 economists said that the monitored rebound in employment would reverse by the end of the year. Twenty-three said that the risk was low, while only one said the probability was very low.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?