Forecasts from the Federal Reserve Bank of Atlanta and St. Louis estimate a loss of 30% or more.
🔵St. Louis Fed’s Economic News Index (ENI)
ENI uses economic content from key monthly economic data releases to forecast the growth of real GDP during that quarter. Last updated on May 8, 2020.
Q1 2020 forecast was -15.56%
Q2 2020 forecast was -42.42%
🔵Atlanta Fed’s GDPNow
The GDPNow model forecasts real GDP growth by aggregating 13 subcomponents that make up GDP with the chain-weighting methodology used by the US Bureau of Economic Analysis. Last updated on May 8, 2020.
Q1 2020 forecast was -.96%
Q2 2020 forecast was -34.85%
The Bureau of Economic Analysis of the United States Q1 2020 Real GDP was -4.8%. Last updated on April 29, 2020.
(Advance Estimate, subject to further changes)
Real GDP growth for the great depression (1929-1933) was -30%, while the last recession (2007-2009) was -4.2%.
COVID-19 recession has put the United States quickly in Great Depression levels and is much worse than 08 recession.
Many opportunities will be coming! I am excited to take advantage. 🥳