The Beginning of an Economic Recovery

Dated: August 17 2020

Views: 18


The Beginning of an Economic Recovery

A recent Wall Street Journal survey of economists noted, “A strong economic recovery depends on effective and sustained containment of Covid-19.” Given the uncertainty around the virus, we can also see what economists are forecasting for GDP in the third quarter of this year (see graph below):The Beginning of an Economic Recovery | Keeping Current MattersOverwhelmingly, economists are projecting GDP growth in the third quarter of 2020, with 5 of the 9 experts indicating over 20% growth.

Lisa Shalett, Chief Investment Officer for Morgan Stanley puts it this way:

“Indeed, the ‘worst ever’ GDP reading could be followed by the ‘best ever’ growth in the third quarter.”

As we look forward, we can expect consumer spending to improve as well. According to Opportunity Insights, as of August 1, consumer spending was down just 7.8% as compared to January 1 of this year.

Bottom Line

An economic recovery is beginning to happen throughout the country. While there are still questions that need to be answered about the road ahead, we can expect to see improvement this quarter.

Latest Blog Posts

The Financial Benefits of Home Ownership

Homeownership Is Full of Financial BenefitsA Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today

Read More

Top 4 Reasons to Own a Home

Owning a home can have an incredible impact on your quality of life. Let's connect if you're ready to make your dream of homeownership a.

Read More

Don’t Sell on Your Own Just Because It’s a Sellers’ Market

In a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional.

Read More

What It Means To Be In A Sellers' Market

For Sellers, Housing Market Updates, PricingWhat It Means To Be in a Sellers’ MarketIf you’ve given even a casual thought to selling your house in the near future,

Read More
Fair Housing Icon NY Fair Housing Notice