2021: THE LOST YEAR?
The BOSS Magazine|February 2021
As analysts peer into the near future for signs of recovery, the messages coming back are murky
ANNE-FRANCES HUTCHINSON
If there were a Magic 8-Ball Pandemic Edition, the same two responses would shake out from the inky blue: “Ask again later,” and “Your guess is as good as mine.” As experts from every corner of the globe offer prognostications about what the state of business and industry may look like in 2021 and beyond, every ounce of intelligence is underwritten by a mutating virus that has zero regard for their pronouncements.

Analysts are managing that cognitive dissonance as well as can be expected.

Buoyed by the rapid development of effective vaccines, hope is the driver behind a December 2020 survey by the National Association for Business Economics. Forty-eight economic forecasters, including those from Point Loma Nazarene University and Goldman Sachs, make up the panel.

Survey chair Sally Wade noted that “NABE panelists have become more optimistic, on balance with nearly one-third revising their outlook higher based on recent news of effective vaccines.”

While the NABE survey estimated economic growth at an annualized rate of 4.1% in Q3 2020 with growth slowing to 2.9% in Q1 2021, 73% of respondents expect the American economy to bounce back to pre-pandemic levels by mid-2021.

Over half of the panelists agreed that the biggest threat to the recovery remains the ultimate unknown, the pandemic. For 27%, however, the biggest risk is insufficient financial aid from the government.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM THE BOSS MAGAZINEView All

Rx for Less

BIOTECH STARTUPS SEEK TO MAKE DRUG PRICES MORE AFFORDABLE

4 mins read
The BOSS Magazine
May 2021

NFTs owning online

A digital token is finding success as a way for content creators to sell the rights to their work.

5 mins read
The BOSS Magazine
May 2021

MANUFACTURING PROWESS MEETS INTELLECTUAL DEPTH

CUSTOM AUTOMATION AND MANUFACTURING SPECIALISTS MIQ PARTNERS BRING IMAGINATION TO LIFE.

5 mins read
The BOSS Magazine
May 2021

Ghost kitchens take food delivery to next level

A GROWING DEMAND FOR FOOD DELIVERY HAS LED TO AN INCREASE IN STANDALONE KITCHEN SPACES

5 mins read
The BOSS Magazine
May 2021

Mothers of invention

THESE MOMS BUILT EMPIRES BY MAKING FAMILY LIFE WORK FOR THEM

6 mins read
The BOSS Magazine
May 2021

GROWING WITH INTENT

FROM PROVIDING CRITICAL PPE DISTRIBUTION TO FURTHERING TRANSFORMATIONAL EQUITY IN THE WORKPLACE, HJI SUPPLY CHAIN’S JOURNEY TO NATIONAL PROMINENCE IS BUILT ON ADDING VALUE.

6 mins read
The BOSS Magazine
May 2021

Big box boom, but drivers needed

A MASSIVE E-COMMERCE SHIFT HAS LED TO A MAD DASH FOR INDUSTRIAL SPACE AND DELIVERY DRIVERS

5 mins read
The BOSS Magazine
May 2021

A NEW APPROACH TO AUTO INSURANCE

ADVANCEMENTS IN TECHNOLOGY CHANGING THE WAY CAR INSURERS DO BUSINESS

5 mins read
The BOSS Magazine
May 2021

THE WAY OF WATER

XRI’s sustainable water solutions are revolutionizing the water midstream industry.

4 mins read
The BOSS Magazine
April 2021

FROM NICHE TO NEED IT TODAY

Once viewed as ‘nice to haves,’ amenities like online ordering and curbside pickup are redefining the grocery shopping experience.

5 mins read
The BOSS Magazine
April 2021