Economic experts think there is a 1-in-3 chance that the economy will remain positive at least through mid-2021, a new survey from the National Association for Business Economics finds.
Economists are beginning to predict a near-term economic future that, until recently, would have been considered inconceivable, or at the very least implausible: The idea that the more than decade-old bull market still has room to run.
I think in many ways, the way the economy has evolved in the past 12 months has been more positive than expected,” said Mark Hamrick, senior economic analyst at. “If you asked people at the beginning of the expansion if it would’ve lasted more than a decade, most people would have said not,” he said. “This is one of the consequences of slower growth for longer.”
“The one thing that people point to all the time is the hiring component,” said Jamie Cox, managing partner at Harris Financial Group. “I think that’s the real takeaway here. It’s more about the strength in hiring than anything else. As long as the labor market stays tight, then recession gets pushed off further and further,” he said.
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