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An Overview of the Economic Outlook: 2021 to 2031

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  • Congressional Budget Office

Abstract

In its new economic forecast, which covers the period from 2021 to 2031, CBO projects that the economic expansion that began in mid-2020 will continue. Specifically, real (inflation-adjusted) gross domestic product is projected to return to its prepandemic level in mid-2021 and to surpass its potential (that is, its maximum sustainable) level in early 2025. In CBO’s projections, the unemployment rate gradually declines through 2026, and the number of people employed returns to its prepandemic level in 2024.

Suggested Citation

  • Congressional Budget Office, 2021. "An Overview of the Economic Outlook: 2021 to 2031," Reports 56965, Congressional Budget Office.
    • Handle: RePEc:cbo:report:56965
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    File URL: https://www.cbo.gov/system/files/2021-02/56965-Economic-Outlook.pdf
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    Citations

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    Cited by:

    1. Alexandra Stanczyk & Dana Rotz & Erin Welch & Andrei Streke, "undated". "What Works During Economic Recessions and Recoveries? Evidence From the Pathways Clearinghouse," Mathematica Policy Research Reports 35b4d568891a44fd809883130, Mathematica Policy Research.
    2. Aujla, Navneet & Frost, Helen & Guthrie, Bruce & Hanratty, Barbara & Kaner, Eileen & O'Donnell, Amy & Ogden, Margaret E. & Pain, Helen G. & Shenkin, Susan D. & Mercer, Stewart W., 2023. "A comparative overview of health and social care policy for older people in England and Scotland, United Kingdom (UK)," Health Policy, Elsevier, vol. 132(C).

    More about this item

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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