Recovery Hopefully To Begin Soon!
With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily, not to mention our local recovery here in Roseville and the Greater Sacramento Valley area. The one that seems to keep rising to the top is: when can we expect an economic recovery? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin.
Many Economists Look to Second Half of 2020
According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a regular monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see the graph below):There seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in this country.
Many Major Financial Institutions Agree
Chris Hyzy, Chief Investment Officer for Merrill notes:
“We fully expect the economy could begin to pick up in late June and July with a strong recovery in the fourth quarter.”
In addition, five of the major financial institutions are also forecasting positive GDP in the second half of the year. Today, four of the five expect a recovery to begin in the third quarter of 2020, and all five agree a recovery should start by the fourth quarter (see graph below):
The vast majority of economists, analysts, and financial institutions are in unison, indicating an economic recovery should begin in the second half of 2020 and that is encouraging news for our country as well as all of us here in Roseville and the Greater Sacramento Valley area. Agreement among these leading experts is stronger than ever. I'm encouraged! How about you?