There is no doubt what the world is currently experiencing will be all over history books in years from now. A lot has been affected by the recent events, but now people and businesses can’t help but wonder, “when will the economy begin to recover from its downfall?”
While an exact time line for the rebound of the economy can’t be determined, expert economists have increasingly united with assurance of an economical bounce back happening in the second half of 2020. The Wall Street Journal Economic Forecasting Survey suggests 85.3% of economists agree with this prediction.
Although nothing can account for the chunk of time lost during the current health crisis with respect to the closure of restaurants, shops, businesses, arenas, and so on, there appears to be an expanding unity among economic experts that late June and July will begin a strong recovery for the U.S. in the fourth quarter.
There might be a huge boost in spending that comes with the freedom of actually getting to spend. When restaurants, shops, and businesses are shut down, the increasing demand for their goods and services can amplify over time. This theory suggests an immense spike in the economy could occur with the reopening of such places. Financial institutions have predicted a positive GDP in the second half of the year.
During a time of uncertainty, instability, and confusion, we can be encouraged by the data and trends of the economic recovery. We can use these extreme circumstances to evaluate our economic responsibility, as well as our part in the economic bounce back!