A Tale of Two Economies: Manufacturing vs. Services | Visa

A tale of two economies: manufacturing vs. services

Plus Visa’s U.S. economic forecast through 2021.

Real GDP CAGR: 2.5% in Mar 2018 to 1.7% forecast in Dec 2021, with line overlay for real GDP YoY % change: 2.86% in Mar 2018 to 1.78% in Dec 2021(f).
Two line charts show manufacturing range from 55.6 in Jan 2017 to 49.1 in Aug 2019 and non-manufacturing from 56.8 in Jan 2017 to 56.4 in Aug 2019.
September 2019 U.S. forecast table, with key economic indicators from 2017 through forecast 2021. Described in detail below.