06/04/09 Anirban Basu, Chairman and CEO of Sage Policy Group, Inc. Portraits in the office. Maximilian FranzThe Daily Record.
SHAMOKIN DAM – Our economy may be booming later this year, with more growth in the years ahead. The Greater Susquehanna Valley Chamber of Commerce once again counted on Dr. Anirban Basu of Maryland to forecast our local, state, and national economic growth in the midst of the pandemic and beyond.
He told the chamber’s online meeting, job growth that began last year flattened out in the winter months, but is resurging this year. “We added a lot of jobs, and it demonstrates the enormous recuperative powers of the US economy under the right circumstances; and that’s something we’ll need to keep in mind as we march toward the 2021 outlook.”
Dr. Basu also pointed out that while coronavirus surges consistently prevent economic recovery, and consumers still remain ill-at-ease about spending, the valley should see a spectacular rebound in the third and fourth quarters of 2021.
He told viewers, “You should be looking to expand your business, you should be looking to expand your capacity; because I’m telling you right now, the latter half of this year is going to be simply spectacular for economic growth, including in the form of stepped-up consumer spending.”
Work-from-home opportunities throughout quarantine are leading to a major shift in the housing economy, which could signal even more regional growth around here, “There’s an opportunity for rural areas, particularly rural areas that offer a high quality of life, good schools, elevated public safety to attract a lot of families that heretofore had not considered those places likely places to live because proximity had so much value. But now, obviously, proximity does not have the value it once did.”
Dr. Basu also stated that vaccination efforts are having a positive impact on economic resurgence.
