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Economists Ratchet Up U.S. Growth Forecasts on Spending Plan

  • Monthly Bloomberg survey shows 5.5% annual GDP, up from 4.9%
  • PCE price index estimates also revised up, though slightly
A contractor installs siding on a house under construction.
A contractor installs siding on a house under construction.Photographer: George Frey/Bloomberg
Updated on

Growth prospects for the U.S. economy this year are brightening considerably as Americans get vaccinated from the coronavirus and Congress closes in on another massive fiscal relief package.

The latest Bloomberg monthly survey of economists shows the pace of growth in the first quarter will be twice as fast as respondents expected just two months ago. Growth estimates were also revised up for subsequent quarters through year-end.