U.S. Economic Outlook: Third Quarter 2020

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/WAS/TS.2020/8
cepal.docTypeLibros y documentos institucionales
cepal.jobNumberS2000939_en
cepal.regionalOfficeWashington
cepal.topicEngECONOMIC GROWTH
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngINFLATION
cepal.topicEngMACROECONOMICS
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaCRECIMIENTO ECONÓMICO
cepal.topicSpaINFLACIÓN
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.entityNU. CEPAL
dc.coverage.spatialEngUNITED STATES
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaESTADOS UNIDOS
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2020-12-15T21:00:36Z
dc.date.available2020-12-15T21:00:36Z
dc.date.issued2020-12-15
dc.description.abstractThe U.S. economy expanded at a 33.1% annual rate in the third quarter of 2020, following a decline of 31.4% in the second quarter and 5% in the first. The third-quarter gain reversed about 75% of the prior decline. The pandemic has created unprecedented volatility in economic growth this year, with the record-shattering decline in real GDP in the second quarter followed by a similarly record-breaking gain in the third. Economic forecasts project a slowdown in the final quarter of the year, however, because of the recent surge in COVID-19 cases and some tighter restrictions that have been implemented to contain the spread of the virus. There is already some evidence that the labor market has begun to weaken. The slowdown in the pace of non-farm payroll gains to 245,000 in November underlines how the renewed surge in virus cases and restrictions is weighing on services demand, as the sharp rise in coronavirus cases since October poses downside risks to the consumer recovery. The economic policy response was prompt and strong in the early phase of the pandemic (equivalent to 13% of GDP). According to the Brookings Institution’s Hutchins Center Fiscal Impact Measure, fiscal policy added 14.1 and 5.4 percentage points to real GDP growth in the second and third quarters, respectively. The size and content of another fiscal package of still much needed relief measures is currently under discussion. The economic outlook remains challenging for the winter months, as it depends on containing the spread of the virus to avoid stricter restrictions, and on new policy measures to support the economy. However, encouraging news regarding the development of effective vaccines, which are expected to be more widely available in the course of next year, have led to upgrades in economic growth projections for the second half of 2021.
dc.formatTexto
dc.format.extent31 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/WAS/TS.2020/8
dc.identifier.urihttps://hdl.handle.net/11362/46500
dc.language.isoeng
dc.physicalDescription31 p.
dc.publisherECLAC
dc.publisher.placeWashington, D.C.
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngECONOMIC INDICATORS
dc.subject.unbisEngRETAIL TRADE
dc.subject.unbisEngINDUSTRIAL PRODUCTION
dc.subject.unbisEngLABOUR MARKET
dc.subject.unbisEngINFLATION
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngFINANCIAL ASPECTS
dc.subject.unbisEngINTERNATIONAL TRADE
dc.subject.unbisEngECONOMIC TRENDS
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaINDICADORES ECONOMICOS
dc.subject.unbisSpaCOMERCIO MINORISTA
dc.subject.unbisSpaPRODUCCION INDUSTRIAL
dc.subject.unbisSpaMERCADO DE TRABAJO
dc.subject.unbisSpaINFLACION
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaASPECTOS FINANCIEROS
dc.subject.unbisSpaCOMERCIO INTERNACIONAL
dc.subject.unbisSpaTENDENCIAS ECONOMICAS
dc.titleU.S. Economic Outlook: Third Quarter 2020
dc.type.coarlibro
dspace.entity.typePublication
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