White House projects U.S. GDP growth to drop to 1.8% a year by mid-2020s -New York Times
Reuters
Published May 28, 2021 12:55PM ET
WASHINGTON (Reuters) - The U.S. economy will slow markedly after its initial bounce back from a pandemic-induced swoon, according to White House projections as reported by the New York Times.
The Times, in a report based on the economic assumptions that underlie a budget proposal the White House will release later on Friday, said the Biden administration sees GDP growth slowing to 2% in 2023 and falling further to 1.8% a year through the mid-2020s.
The administration projects an unemployment rate of 3.8% from 2023 on, the newspaper said.
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Written By: Reuters
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