As national restrictions to fight the COVID-19 pandemic crisis were progressively lifted in the first half of the year, the United States have been experiencing positive economic growth throughout 2021. In 2021-Q3, GDP grew by 0.52 percent relative to 2021-Q2 and by 4.90 percent relative to 2020-Q3. The national unemployment rate fell to 5.13 percent, 3.67 percentage points lower than in the same period of the previous year. The country is also experiencing inflation, with prices having increased by 1.60 percent relative to the previous quarter and by 5.34 percent relative to the same period of the previous year. According to the OECD economic outlook, GDP is expected to continuously grow and to stabilize at an annual growth rate of about 3.5-4.0 percent in 2022, unemployment will steadily decline, reaching 4.0 percent by the end of next year, and inflation is expected to remain high throughout the following quarters, stabilizing at about 2.5 percent in 2022. These predictions are based on the expectation that economic activity will gradually transit towards normalcy.

January 2022