How Long Will the Boom Continue?
The U.S. economy has been on a bit of a roll…
Oxford Economics’ Recovery Tracker — which factors in things like demand, production, employment and public health — posted its 18th consecutive weekly gain at the end of June. The growth has been broad-based, too. Toward the end of June, 44 states posted a weekly increase, and all five regions posted a synchronized gain.
“U.S. GDP growth is expected to move towards a summer boom and gain momentum from the spring bloom that was just experienced,” said Chloe Parkins, senior economist at Oxford Economics. Q2 GDP is expected to land somewhere between what was reported in Q4 2019 and the growth path the economy was on prior to the pandemic.
“Looking at Q3 onward, we are expecting the path of GDP to remain consistently above its pre-virus path,” Parkins added.
The Canadian market is recovering similarly. Canada’s economy just returned to pre-pandemic…
