With the spread of Covid-19 in the US slowing considerably and vaccinations continuing at a healthy pace, consumers are gradually spending again on services. We expect resurgent demand in Q2 and Q3 will support consumption growth of 9.5% in 2021 – a near 70-year high. The fading pandemic should also ease labor supply constraints, fuelling the addition of 8 million jobs in 2021.
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Topics: United States, US economy, North America, Economic recovery