US economic growth to hit 4.6% in 2021

[WASHINGTON] US economic growth will rebound to 4.6 per cent in 2021 from a contraction of 3.5 per cent in 2020, powered by a resumption of business activity and coronavirus rescue spending, but growth will taper off to below 2 per cent by the end of the decade, the Congressional Budget Office said on Monday.

The non-partisan budget referee said its latest forecasts are based on current laws passed by Jan 12, and do not include any executive actions or stimulus proposals by President Joe Biden's administration.

REUTERS