Analysts raise US GDP growth forecasts for this year

Economists are increasingly optimistic about the prospects for economic growth in the U.S., helped by the spread of coronavirus vaccines, reports The Wall Street Journal. According to survey conducted by the publication in early February, they expect the nation's GDP to increase by 4.9 percent this year compared to the fourth trimester last year. By comparison, in January, the expectations experts were 4.3 percent. In addition to vaccines, analysts' sentiment is supported by a new package of support for the U.S. economy of $1.9 trillion. According to Boston College economics professor Brian Bethune, it's a fairly voluminous infusion that will provide a hedge economy in a recession. Almost all respondents in the poll found the package sufficient - more than 50% think less than $1 trillion is sufficient for these purposes. At the same time, forecasts for labor market recovery in February were lower than in January. In addition, analysts are tuned in to rising inflation, expecting a 2.8% increase in U.S. consumer prices by the summer.