NAB specialists and clients from across the bank’s Fund Sponsors, Strategic Investors and Alternative Assets (FSA) business gathered over lunch recently to share career stories and advice on promoting greater diversity and inclusion.
January 29, 2021
US Economic Update – January 2021
Recovery lost momentum at end of 2020; hope for a better 2021
Key highlights:
- GDP grew by 1.0% q/q in Q4 2020, but this headline figure masks a weakening in the economy as high rates of COVID-19 transmission and restrictions on mobility and activity took its toll over November/December.
- The substantial fiscal support passed at the end of 2020, with more expected, as well as the roll-out of vaccines, offers the hope of rapid growth emerging over 2021.
- As a result, we have revised up our 2021 GDP growth forecast to 4.5% (from 3.3%) and our 2022 forecast to 3.9% (from 2.4%). Fed funds rate to remain unchanged for the next two years at least.
Find out more in NAB’s US Economic Update – January 2021
