“We’re at the opening stages of what could be a very strong six to nine months for the U.S. economy as it emerges from the pandemic."
"The response of capital spending to the COVID pandemic is encouraging for the outlook for 2021."
February’s gain in the GDP component, which was in line with economists’ expectations, followed a 0.4% advance in January.
With government relief checks and the accelerating vaccine rollout, "there is finally real light at the end of the tunnel."
The central bank expects to maintain ultralow rates until “inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.”
After the worst year for the economy since at least the end of World War II, economists are still hopeful of a faster recovery in the second half of 2021.
Retailers pushed imports of consumer goods to a record as they stocked up for the Christmas holiday season..
There is a “material risk” that setbacks in containing the pandemic could result in a much weaker recovery, the bank warns.
Some economists fear Japan's recovery from the coronavirus pandemic is threatened by rising infections, with a contraction possible early next year.
Amid the surge in coronavirus infections, “We are increasingly worried that the monthly gains in consumption will be weaker."
“It looks like consumer spending is increasingly turning into a headwind for this recovery from the worst economic downturn since the Great Depression."
The bank will purchase another 150 billion pounds in bonds to shore up the U.K. economy as the country enters a second lockdown.
