(MENAFN)S&P Global has increased U.S. financial expansion prediction for this year to 6.7 percent, from its previous estimate of 6.5 percent.
The financial analytics firm on late Thursday, also increased its gross domestic product (GDP) anticipation for 2022 to 3.7 percent, from 3.1 percent prediction made in March.
It said in a report "A better vaccination outlook, a faster reopening schedule, and USD2.8 trillion from two stimulus packages have turbo-charged the U.S. economic recovery this year and the next".
It added that "The unemployment rate will likely reach its pre-crisis range of fewer than 4 percent by first-quarter 2023".
The company, though, advised that U.S. labor market still has a long way to restore the 22.4 million jobs lost throughout the first months of pandemic, adding it will not likely happen before the fourth quarter of 2022.
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