The Epidemic Sets The Economy Back About Two Years

(May 29, 2020, 6:37 p.m. EST) The Coronavirus epidemic is currently expected to set back the U.S. economically by nearly two years. Here are the facts.

The size of the U.S. economy peaked at an annualized rate of $19.2 trillion in the fourth quarter of 2019. By comparison, the most recent forecast of 60 economists surveyed monthly by The Wall Street Journal is for the economy to bottom at a $18.2 trillion annualized growth rate in the fourth quarter of 2020. Then, the recovery begins.

The nation is not expected to return to the record $19.2 trillion GDP of late 2019 until the end of March 2022, nearly two years from now.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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