Despite seeing economic headwinds in the short-term, and fall-out from the Presidential election, CBRE Global chief economist and head of Americas research Richard Barkham anticipates a recovery starting to take place in 2021. The executive has authored a new paper on the firm's outlook for next year and was interviewed last week for CBRE's Weekly Take podcast.
GDP growth this year appears to be at minus 4%, he said, but "we're looking at the reverse of that in 2021, somewhere between 4% and 5% GDP growth."
The projection takes into account a near-term delivery of a COVID-19 vaccine—likely in Q2 2021—and an economic stimulus package being distributed in the near-term. Further, he noted that the results of the Presidential election left the country "divided" but he doesn't expect "radical policy departures."
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
