Can Americans Expect A Stronger Recovery in the United States in 2021?
According to one economic indicator, the US economy will continue to improve in 2021.
The Leading Economic Index (LEI) for the United States grew by 0.7 percent in June to 115.1, according to the Conference Board, a New York-based think tank. This adds to the economic situation that peaked in May.
While growth slowed slightly in June, the LEI’s overall upward trend quickened during the second quarter, according to Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board in Washington.
“Despite negative contributions from housing permits and the average workweek, June’s advance in the US LEI was broad-based, implying that strong economic growth will continue in the near term,” Ozyildirim added.
Many experts believe the United States will see an increase in growth.
In late June, Lindsey Piegza, chief economist at Stifel, told U.S. News & World Report, “We still see positive growth, albeit at a slower rate.” “There is a rebalancing of pent-up demand that is flooding the market.”
The labor market hasn’t entirely recovered, and many Americans are still looking for work.
The number of initial unemployment filings for the week ending July 17 was higher from the previous week, with total initial unemployment filings totaling 419,000.
According to a July 2 estimate from the Bureau of Labor Statistics, there are 9.5 million unemployed Americans.