inception-app-prod/ODk5MTJmMjUtMDgwOS00NzVmLWJmYWQtMGVkYmE2YzBhNDEw/logo/2020/10/joe-herbert-realty-horz-logocmyk-1-2.jpg
We Work For You
  • Listings Search
  • Join Our Team
  • Blog
  • Buy/Sell
    • Winter 2021 Home Buyer’s Guide
    • Winter 2021 Home Seller’s Guide
    • Standard Operating Procedure For Buyers
  • Testimonials
  • About
  • Meet Our Team
Broker
joeherbertrealty@gmail.com
814-217-1900
Sign In
Sign Up
inception-app-prod/ODk5MTJmMjUtMDgwOS00NzVmLWJmYWQtMGVkYmE2YzBhNDEw/logo/2020/10/joe-herbert-realty-horz-logocmyk-1-2.jpg
We Work For You
  • Listings Search
  • Join Our Team
  • Blog
  • Buy/Sell
    • Winter 2021 Home Buyer’s Guide
    • Winter 2021 Home Seller’s Guide
    • Standard Operating Procedure For Buyers
  • Testimonials
  • About
  • Meet Our Team
inception-app-prod/ODk5MTJmMjUtMDgwOS00NzVmLWJmYWQtMGVkYmE2YzBhNDEw/logo/2020/10/joe-herbert-realty-horz-logocmyk-1-2.jpg
We Work For You
inception-app-prod/ODk5MTJmMjUtMDgwOS00NzVmLWJmYWQtMGVkYmE2YzBhNDEw/content/2020/03/20200323-kcm-share.jpg

Economic Slowdown: What the Experts Are Saying

inception-app-prod/ODk5MTJmMjUtMDgwOS00NzVmLWJmYWQtMGVkYmE2YzBhNDEw/content/2021/10/70f7211d991dfadae59829e6af96c9533475d9b0.png
Joe Herbert,03/23/2020

Economic Slowdown: What the Experts Are Saying

More and more economists are predicting a recession is imminent as the result of the pullback in the economy caused by COVID-19. According to the National Bureau of Economic Research:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

Bill McBride, the founder of Calculated Risk, believes we are already in a recession:

“With the sudden economic stop, and with many states shutting down by closing down schools, bars and restaurants…my view is the US economy is now in a recession (started in March 2020), and GDP will decline sharply in Q2. The length of the recession will depend on the course of the pandemic.”

How deep will it go?

No one knows for sure. It depends on how long it takes to beat this virus. Goldman Sachs anticipates we will see a difficult first half of the year, but the economy will recover in the second half (see below):Economic Slowdown: What the Experts Are Saying | Keeping Current MattersGoldman also projects we’ll have “further strong gains in early 2021.”

This aligns with the projection from Wells Fargo Investment Institute:

“Once the virus infection rate peaks, we expect a recovery to gain momentum into the final quarter of the year and especially into 2021.”

Again, no one knows for sure how long the pandemic will last. The hope is that it will resolve sometime over the next several months. Most agree that when it does, the economy will regain its strength quickly.

*Quarter 1 data from Goldman Sachs was updated from 0% to -0.2% on 3/17/20 after the initial release.

Bottom Line

This virus is not only impacting the physical health of Americans, but also the financial health of the nation. The sooner we beat it, the sooner our lives will return to normal.

Print Details
Previous post
Next post
5 Simple Graphs Proving This Is NOT Like the Last Time
Don't Let Frightening Headlines Scare You

Have a question?

SEND
Submitting
Succes! Your message was sent!
Oops! Error occurred.

Search listings

Enter city, zip, neighborhood, address…
Loading in progress…
No results found
Type in anything you’re looking for
Search

Office

Joe Herbert Realty
4528 Zuck RdErie
PA 16506
814-217-1900
JoeHerbertRealty@gmail.com

Essentials

  • About
  • Meet Our Team
  • Listings Search
  • Buy
  • Home Worth
  • Blog
  • Contact Us
  • Join Our Team
  • Testimonials

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information you seek through an alternate communication method.
inception-app-prod/ODk5MTJmMjUtMDgwOS00NzVmLWJmYWQtMGVkYmE2YzBhNDEw/logo/2020/10/joe-herbert-realty-horz-logocmyk-1-2.jpg

© 2022 All rights reserved

Created with Placester

Sign in

Sign in with your email address

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Enter your email address

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Let Us Know How We Can Help You

Don't Go It ALONE! Joe Herbert Realty is here to help you navigate the twists and turns of buying a new home or selling your existing home.
Send
Succes! Your message was sent!
Thank you for contacting us. We will get back to you within 24-48 hours.
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Please wait...

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link