October 20, 2021
Economy

Problems remain but a recession isn’t in sight, PNC economist says

Our financial health in the months ahead will reflect not just the ongoing haggling in Congress and the disruptive computer chip shortages in the auto industry but also who gets a jab and who doesn’t. 

“We have a vaccinated economy and we have (an) unvaccinated economy,” PNC Financial Services Group senior economic adviser Stuart Hoffman said. He is scheduled to speak at the Detroit Economic Club meeting Wednesday at the MotorCity Casino Hotel in Detroit.

Hoffman, who chatted with me by phone Monday, is optimistic overall when it comes to economic growth in the U.S. Even so, much continues to depend on vaccination efforts and the opportunity to get on the other side of the pandemic. 

Why U.S. economy could prove healthy

The good news is that the country is likely to avoid a recession in 2022, 2023 and 2024, according to Hoffman’s forecast.

Economic growth can be expected to…

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