CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Kebede updates economic forecast, looks through end of 2021
Policy & Issues

Kebede updates economic forecast, looks through end of 2021

October 4, 2021
2020-03-econimicforecast_117475

CUNA Senior Economist Dawit Kebede gives an update to the previous June forecast in this month's Economic Update video, as well as examines some key figures heading into the fourth quarter of 2021. 

His discussion also includes a look look at consumer demand and its effects on economic growth and inflation; the unemployment rate to end of 2021 and beyond; and the historic low charge-off rate in the second quarter. 

Main changes to the previous June Forecast include the following:

  • The economy is expected to grow 6.0% in 2021, revised down from 6.5% in the previous forecast. Inflation is expected to increase 5.5% in 2021 (compared to 3.0% in our previous forecast) due to heightened consumer demand and continued supply disruptions.The unemployment rate will improve slightly in 2021 and fall to 4.8%, down from 5.0% in the previous forecast. The 10-year treasury yield was revised down by 0.5 percentage points in 2021 and 2022, to 1.5% and 2.0%, respectively.
  • Savings growth for 2021 was revised down from 15.0% to 12.0% based on strong second quarter performance. Membership growth was revised up slightly by half a percentage point for 2021 and 2022. Finally, the net charge-off rate was revised down by 14 basis points for 2021 based on a historic low record for the second quarter.

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • Reps introduce bipartisan Credit Union Board Modernization Act

  • CDFI Fund announces CUNA-sought delay to consider application changes

  • CUNA makes recommendations for CFPB personal data rights rulemaking

Tweets by CUNA_News

Polls

How do you feel about the economy in 2023?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us