“In that day.” The phrase “in that day” has already been used in Isaiah in association with the Last Days and the time when Yahweh takes vengeance on the evil of earth and establishes righteousness (cp. Isa. 2:9-21, esp. v. 11, 17, and 20). In this case, “that day” refers to the Millennial Kingdom. [For more on the Millennial Kingdom, see Appendix 3, “Christ’s Future Kingdom on Earth”].
“the Branch of Yahweh.” This refers to the Messiah, as it does in other places (Jer. 23:5; 33:15; Zech. 3:8; 6:12). Many modern interpreters disagree with that, but the biblical evidence supports it (cp. Edward J. Young, The Book of Isaiah). The first time the Messiah came, there was “no beauty that we should be attracted to him” and he was “despised and rejected by people” (Isa. 53:2, 3). But when he is present the second time, conquering and ruling the earth, he will be “beautiful and glorious” (Isa. 4:2).
“the fruit of the land will be for beauty and for glory for the survivors of Israel.” In the Millennial Kingdom there will be an abundance of food for the people (Isa. 25:6; 30:23-26; 32:15; 35:1-7; 41:18-20; 44:3; 51:3; Jer. 31:5,11-14; Ezek. 47:1-12; Hos. 2:21,22; Joel 2:18-26; Amos 9:13). There is no compelling reason not to see this verse as a simple promise that in the Millennial Kingdom the land will be healed and there will be plenty of food that will be an evidence the people are blessed. However, since many scholars do not believe that Christ will rule on a renewed earth, many different interpretations have been set forth as to what the verse could mean. One of the more reasonable proposals is that “the fruit of the land” is a second reference to the Messiah, but there is no need for that interpretation and the Messiah is nowhere else called that.
“those of Israel who have escaped.” Those “who have escaped” is a phrase that refers to the remnant of Israel who believed and who will be alive in the Millennial Kingdom. Some of those people will have been in the Resurrection of the Righteous, while others will have been let into the Kingdom at the Sheep and Goat Judgment. References to people who have “escaped” being in the future Kingdom of Christ on earth occur in other places in the Old Testament as well (cp. Isa. 10:20; 37:31; Joel 2:32; Obad. 1:17).
[For more on the Sheep and Goat Judgment, see Matthew 25:25:31-46 and the REV commentary on those verses].