The COVID-19 pandemic plunged the United States into recession, with national economic output falling by 3.4% in 2020, according to the IMF. Growth is now returning aided by a vaccination program that is picking up speed after a stumbling start. The IMF projects the US economy will bounce back strongly to 4.3% growth in 2021 and 3.2% in 2022.
While the pandemic has hit US economy hard, most US executives surveyed are upbeat about the financial outlook for their own organizations. According to a recent survey conducted by SAP Concur and The Economist Group in December 2020 and January, 72% of executives report positive financial expectations for the coming 12 months, although they are less optimistic about US and the global economy.
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