RSM economist forecasts recovery and expansion in 2021
The economy is on track to recover and expand in 2021, a top RSM economist told Quad Cities business leaders Dec. 3 at the Chamber's annual Economic Forecast presented by IMEG Corp. and Mediacom Business. If you missed the live presentation and Q&A with RSM's Deputy Chief Economist Kevin Depew, click the chat box icon to the right to contact Marcy Hyder, Director, Events & Sponsorships, for a recording.
Ryan Weber, Quad Cities Market Leader for RSM, provided the following high-level takeaways and video recap:
- Manufacturing and housing industries are leading the economic recovery
- The national economy is operating at 82% of where it was in early March 2020
- Midway through 2021, the economy will likely see a boost if a COVID-19 vaccine is effective
- The manufacturing industry, especially the sector that produces agricultural equipment and technology, coupled with the overall diversity of industries in the Quad Cities, should help our regional economy rebound faster than other areas
- Resilient small businesses, including restaurants and retailers, that can innovate by having an online presence, for example, are positioned to survive the next six months
- 2021 may be better than we expect, but it certainly will not change overnight
Check out RSM’s real-time, middle market-relevant macroeconomic perspectives to help you anticipate and address the unique issues and challenges your organization may be facing.
Thank you to all of our sponsors for making this event a success!
