Fundamentally, conditions show a remarkable improvement thanks to the government’s quick fiscal and monetary response. Without question, I think the worst is behind us, but the recovery path remains bumpy.
Second Quarter Collapse in Economy Seen as a Transitory Natural Disaster
The 2019 4th Quarter GDP report shows the economy was holding up well before the Covid-19 pandemic. Economists' projections for the next few quarters vary considerably, but most show only one quarter of negative growth.