US Congressional Budget Office out with forecasts for GDP growth and unemployment

The US Congressional Budget Office is out with forecast for GDP and unemployment.

  • Forecast US real GDP growth for calendar year 2021 at 4.6% vs. 3.5% contraction 4 2020
  • US real GDP growth to slow to 2.9% in 2022 and 2.2% in 2023
  • GDP growth averaged 2.3% for 2024 in 2025. One .7% for 2026-2031 period
  • forecasts are based on current laws enacted through January 12, excludes any Biden executive actions are stimulus proposals
  • average US unemployment rate of 5.7% for calendar year 2021 vs. 8.1% for 2020

For what it's worth although I wouldn't bet the ranch on the accuracy of the forecasts