U.S. and Global Economies Slammed by COVID-19: U.S. and World Outlooks
The Conference Board of Canada, 15 pages
April 9, 2020
This briefing examines the short-term developments in the U.S. economy, including housing, consumption, and investment, as well as the outlook for the global economy.
- Measures to stem the outbreak of COVID-19 will lead to a drop in U.S. real GDP in the second quarter of this year. The service sector has borne the brunt of the damage.
- Aggressive monetary and fiscal stimulus has averted what would have been a far worse outcome for the U.S. economy as it deals with the COVID-19 pandemic.
- The economy is expected to begin to recover in the second half of this year.
- The severe disruptions in the global economy are likely to cause many multinational corporations to re-examine their supply chain linkages with China.
Table of Contents
Appendix A—Forecast assumptions