The news these days seems to have a mix of highs and lows. We may hear that an economic recovery is starting, but we’ve also seen some of the worst economic data in the history of our country. The challenge today is to understand exactly what’s going on and what it means relative to the road ahead. We’ve talked before about what experts expect in the second half of this year, and today that progress largely hinges upon the continued course of the virus.
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):
Overwhelmingly, 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.If you have any questions about the buying or selling process, OUR TEAM CAN HELP! Call or text me today!!!!
Read Our Client Reviews: CLICK HERE
ADDITIONAL RESOURCES- Buyer Resources
- Search For Homes: CLICK HERE
- Virtual Home Buying Program: CLICK HERE
- FREE Home Buyer Webinar: CLICK HERE (Mistakes to Avoid When Buying a Home!)
- Download our FREE Home Search Mobile App: CLICK HERE
- Ask about our credit repair program!
- Seller Resources
-
- FREE Instant Access To Your Home Value: CLICK HERE
- FREE E-Book “Protecting Your Equity”: CLICK HERE (Learn the secrets to selling your home for MORE MONEY in LESS Time)
- Home Sale Concierge Program: CLICK HERE
