“Business forecasting exists to make astrology look good,” says McKinsey’s global managing partner Kevin Sneader, paraphrasing John Kenneth Galbraith’s famous quip before outlining eight trends that he predicts will define 2021 and beyond. Despite the complexity of trying to peer into the future, this week McKinsey experts propose what’s ahead for capital markets, corporate organization, and medical research. In a deep analysis of the state of Black America, our experts envision what the future could be for nearly 13 percent of the US labor force.
To get a handle on what’s to come, McKinsey finance and risk experts, with input from the McKinsey Global Institute, offer eight charts depicting the retreat of the virus in some regions, increasing economic stability, and near-term growth (exhibit). Further charts examine how economies have recovered from crises in the past and model possible outcomes.
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