OECD published this week its Interim Economic Outlook. Forecasts for the economy in the USMCA region had a significant improvement for 2021.
Current estimates are 5.1% GDP growth for the United States, 4.7% for Canada and 4.5% for Mexico.
The reason for this improvement is the USD 1.9 trillion fiscal stimulus considered in the American Rescue Plan. According to OECD, “measures are assumed to take effect over 2021Q2-2022Q2”.
Due to the recent events, the Conference Board estimates that USA economy will recover its pre-pandemic levels on May (two months ago the estimate was October).