US | Rising health conditions are fostering economic vitality

With the spread of Covid-19 in the US slowing considerably and vaccinations continuing at a healthy pace, consumers are gradually spending again on services. We expect resurgent demand in Q2 and Q3 will support consumption growth of 9.5% in 2021 – a near 70-year high. The fading pandemic should also ease labor supply constraints, fuelling the addition of 8 million jobs in 2021.

What you will learn:

• Vaccine rates have slipped but will get a bump as eligibility widens to young children
• Airline passengers have nearly doubled in early June
• Strong demand has lifted job openings to an all-time high