U.S. Energy Information Administration. The COVID-19 pandemic will affect the housing market through 2021, according to the National Association of Realtors (NAR). Image by Michela Buttignol © The Balance 2020. Accessed Nov. 25, 2020. Percent Change From Preceding Period in Real Gross Domestic Product,” Accessed Nov. 25, 2020. Digital sales, despite comprising only about 15% of … The pandemic has also shifted homebuyer demand away from the crowded cities and to the suburbs. But the baseline for the forecast assumes that Indiana will remain at Stage 5 of the governor's plan to … Sovereign Debt and the Financial Crisis: Will This Time Be Different? The 2021 economy got its monetary jolt. SciencesAdvances. Global Change Research Program. Accessed Nov. 25, 2020. "Repealing the Individual Health Insurance Mandate: An Updated Estimate." "Heat Waves." Subscribe to Forbes Asia. 1. Accessed Nov. 25, 2020. "Federal Reserve Issues FOMC Statement, Sept. 16, 2020." What Is the Current Fed Interest Rate and Why Does It Change? Bureau of Economic Analysis. The COVID-19 pandemic will slow growth for the next several years. Projected Changes in Persistent Extreme Summer Weather Events: The Role of Quasi-resonant Amplification, Climate Change: Information on Potential Economic Effects Could Help Guide Federal Efforts to Reduce Fiscal Exposure, Wildfire Premiums Could Become a 'Social Issue': Munich Re Climatologist, Whither the 100th Meridian? Around the world, but mostly in the U.S. and China, there are more than 500 of these cocky “digital native” startups funded by venture capital. "Consumer Price Index Summary." Of more than 50 economists polled by Reuters, some forecast the world economy will shrink as much as 6% in 2020. Longer summers lengthen the allergy season. Accessed Nov. 25, 2020. Accessed Nov. 25, 2020. Still, not all the wind will be at China’s back. Kimberly Amadeo has 20 years of experience in economic analysis and business strategy. Extreme weather, such as heatwaves, hurricanes, and wildfires, could increase by 50% in North America by 2100. It could cost the U.S. government as much as $112 billion per year, according to a report by the U.S. Government Accountability Office (GAO).. 3. By January 8, before news of COVID-19 started to leak out of China, the World Bank was forecasting that India’s economy would grow 5 percent and China’s by a healthy 5.9 percent. It also lowers export prices, spurring economic growth. National health care expenditures will increase by 5.4% a year to exceed $6 trillion by 2028. In the first quarter of 2020, growth declined by 5%. In some areas, the pollen season is now 25 days longer than in 1995. Pollen counts are projected to more than double between 2000 and 2040., Most areas of the country are experiencing more frequent and longer heatwaves. With that summary in place, we turn to … Unemployment rate: 3.4% 2019 job growth: 1.1% (14,300) 2020 job … Their bet, after all, was on a unicorn’s potential, not its profits. Accessed Nov. 25, 2020. Accessed Nov. 25, 2020. U.S. U.S.-China Economic and Security Review Commission. With a virtually unlimited ability to print cash, and an election promise to spend trillions in new infrastructure, Trump managed to hang on and win reelection. Astrological Predictions For Indian Economy 2020-2022 Future Forecast: It’s been more than 3 years Since Our Prime Minister announced the crucial demonetization and banning of currency of 500 and 1000 notes across all over the country. from Stanford University. This will cap China’s growth potential in the years ahead. Accessed Nov. 25, 2020. “Made in America” means higher costs because U.S. workers get paid more for their work than those in China. U.S. Department of the Treasury. Accessed Nov. 25, 2020. Low-income families without insurance might use the hospital emergency room for primary care. Accessed Nov. 25, 2020. The $27 trillion debt and federal budget sequestration that's reduced spending on some items mean that the U.S. really can't afford to wage large ground wars anymore., In March 2019, the government increased the Fiscal 2020 national security budget to $750 billion. The Department of Defense said that this increase will strengthen its competitive edge and help the military succeed by prioritizing innovation and modernization in war for decades to come.. Accessed Nov. 25, 2020. Population: 3,014,000. Here are 34 big thinkers’ predictions for what’s to come. Accessed Nov. 25, 2020. "Wildfire Premiums Could Become a 'Social Issue': Munich Re Climatologist." Accessed Nov. 25, 2020. The median core inflation rate is predicted to be 1.2% in 2020, 1.7% in 2021, 1.8% in 2022, … For his past columns and blogs visit our website at www.forbes.com/sites/richkarlgaard. So will the unicorn herd. Predictions for the post-COVID future of work. Accessed Nov. 25, 2020. "The Year 2040: Double the Pollen, Double the Allergy Suffering?" This page has economic forecasts for Canada including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Canada economy. Petroleum Exports Exceed Imports in September.” Accessed Nov. 25, 2020. Though leftists Jeremy Corbyn, in the U.K. in 2019, and Bernie Sanders in the U.S. in 2020, failed to get elected, their movements will have grown, the bitter fruit of the abysmal 2020 harvest. "Whither the 100th Meridian? The Federal Reserve will keep interest rates low to spur growth. U.S. Government Accountability Office. China will benefit from its bet on stockpiling oil reserves at cheap prices in 2020. Accessed Nov. 25, 2020. "National Climate Assessment." Inflation. I'm also an entrepreneur, an active angel investor, and sit on three outside boards. By Nov. 20, 2020, it had fallen to 113.8, around what it was in January 2019.. Accessed Nov. 25, 2020. Some critics say this spending is not needed, given the lessened presence of the U.S. military around the world. "Debt to the Penny." The U.S. government may have to divert more funds to pay off that interest. Social Security pays for itself, and Medicare partially does, at least for now. A crisis on this scale can reorder society in dramatic ways, for better or worse. Bureau of Labor Statistics. "Climate Change: Information on Potential Economic Effects Could Help Guide Federal Efforts to Reduce Fiscal Exposure," Page 1. Accessed Nov. 25, 2020. What is the fatality rate across different population groups? This leads to illness and death, as well as damaged crops and dead livestock, plus power outages., Almost 40% of the U.S. population could be flooded from rising sea levels. Rising sea levels cause hurricanes and storms to push farther inland. "Employment Situation Summary." As Washington wrestles with the best way to address the debt, uncertainty arises over tax rates, benefits, and federal programs. The U.S. Forest Service estimates that 100,000 beetle-infested trees could fall daily over the next 10 years.