SO WHEN DOES THE RECOVERY START?

“The Congressional budget Office warned this week that it could take a decade for economy to fully recover from the pandemic.  The agency marked down it 2020-2030 forecast for U.S. economic out pit by $79 trillion or 3% if GDP.  By the last quarter of 2020 the CBO expects the economy to shrink 5.6%.  The economy should resume growing after this year, but no where near fast enough to make up lost ground.  While global factory activity is starting to bottom out, productivity and consumer spending remains weak.  “There isn’t much to cheer about here,” said Robert Samulson.  ‘Much uncertainty remains.  “Employment, car sales and housing starts will all take a hit.  We’re moving into a new era where competing will be intense for a shrinking pie.  There will be less trade, immigration and foreign investment.  So economists think even this prediction may be too optimistic. And number will be adjusted down even further.

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