COVID-19 US Economic Impact March 2020 Update
Our analysts and economists believe the short-term impact of the COVID-19 outbreak will be significant – impacting demand, investment and industry consolidation. Once the outbreak is brought under control, we expect annual growth trends to be similar to the pace we had anticipated before the outbreak hit.
In this impact report Freedonia provides an updated outlook for US economic activity in 2020, 2021, 2022, 2023, & 2024, with comparisons to the forecasts made in February 2020, before Covid 19 cases began spreading in the US.
Updated annual growth rates are given for the following:
- Real Gross Domestic Product (GDP)
- Real Personal Consumption Expenditures (PCE)
- Real Construction Spending
- Real Manufacturer's Shipments
- Light Vehicle Production
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