The lifting of restrictions and ongoing policy support should translate into a sustained period of above-potential GDP growth, driven by consumption and business investment. We expect GDP growth of 6.3% in 2021 and 4.0% in 2022, followed by a slowdown to less than 2% in 2023, as excess capacity is eliminated and higher interest rates weigh on residential investment.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.