www.wbjournal.com • Worcester Business Journal • 2021 Economic Forecast 5
2017
T
his year did not go as planned. Hopefully 2021
will be better.
In WBJ's annual survey of readers regarding
their outlook for next year, the overwhelming
consensus is 2020 was not a good year for businesses in
Massachusetts, but 2021 will almost certainly bring better
fortunes.
In this year's survey, WBJ asked the same questions it
always does, in order to track readers' collective opinions
over time, but we added some new questions specific to
this year in order to understand how the major events –
coronavirus, the Worcester Red Sox, and the presidential
election – impacted their 2020 and their outlook for 2021.
The results speak for themselves.
– Brad Kane, editor
Hoping to move on from a bad year
How will the economy fair next year compared to this year?
Improve significantly Improve slightly Remain the same
Decline slightly Decline significantly
2020
2019
Do you think the Central Massachusetts economy is in better
or worse condition today than it was at this time last year?
Better Worse Not sure
2016
2017
2018
2020
2019
With coronavirus cases spiking nationally but a vaccine
expected to be made widely available in early 2021,
when do you anticipate your company will return to
almost normal pre-pandemic operations?
2018
2016
12%
15%
3%
4%
26%
56%
50%
32%
50%
46%
19%
9%
4%
19%
16%
29%
30%
6%
0%
30%
15%
1%
11%
11%
6%
79%
5% 16%
85%
8% 7%
77%
8% 15%
70%
13% 17%
6%
89% 5%
By the first half
of 2021
14%
By the fall
of 2021
41%
By the end
of 2021
23%
8%
6%
Not until
well into 2022
8%
It will likely take
several years.
We will never return to normal
pre-pandemic operations.
ECONOMIC FORECAST 2021
WBJ reader's survey
