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2021 and 2022 growth forecasts revised up sharply

The United States will record stronger growth than expected in 2021 and 2022 thanks in particular to consumer spending boosted by savings during the pandemic, according to updated projections from the Congressional Budget Services (CBO) released Thursday.

This independent agency now expects an increase in gross domestic product of 6.7% this year, against 4.6% estimated last February. For 2022, it projects growth of 5% against 2.9% estimated a few months earlier.

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