One year into pandemic, sky begins to clear over U.S. economy

WASHINGTON (Mar 1) - Despite the U.S. economy’s near miss with a depression last year and an ongoing coronavirus pandemic that has brought travel to a virtual halt, Jeff Hurst, the chief executive of vacation rental firm VRBO, sees a boom on the horizon.

“Every house is going to be taken this summer,” Hurst said, as the expected protection from vaccines arrives in step with warmer weather, unleashing a cooped-up population with record savings stashed away. “There’s so much built-up demand for it.”

That sort of bullish sentiment has increasingly taken root among executives, analysts and consumers who see the past year of comparative hibernation - from the government-ordered business closings last spring to continued risk avoidance by the public - giving way to a cautious re-emergence and green shoots in the economy.

Reuters