SH - Moderate Growth Outlook Holds For U.S. GDP In Q4

• As COVID-19 vaccines start to roll out in the West, the prospect of economic recovery strengthens.
• Many risks continue to lurk, of course, but for the first time since the pandemic started, there are tangible signs of light at the end of the tunnel.
• The pandemic seems likely to get worse before it gets better, but expectations for fourth-quarter GDP in the US continue to reflect moderate growth.

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