Most economists and business leaders are predicting the economy will take a very long time to recover from the shock brought on by the COVID-19 pandemic, and many are saying the economy may never look the same.
Dr. Timothy Nash who directs Northwood University’s McNair Center for the Advancement of Free Enterprise and Entrepreneurship, believes the economy will return more quickly to pre-pandemic levels sooner than most—and could show signs of growth within a few months. He sees signs in the data that support his optimistic and somewhat contrarian view, but believes the window of opportunity will not stay open long.
“It is critical that government and business work closely together over the next three weeks to maximize benefits of testing and social distancing,” said Nash. “This should allow large segments of the U.S. economy to be responsibly opened, possibly driving double-digit GDP growth in Q3 and Q4.”
According to the index, the economy is just below 60 percent of the way back to pre-coronavirus levels, with optimism slowly returning.
The index follows seven variables, is updated daily and can be found here: https://mcnair.northwood.edu/covid-19-optimism-index
Northwood University’s McNair Center for the Advancement of Free Enterprise and Entrepreneurship is a premier think-tank generating information focused on the study, advocacy and expansion of the free-market process and the creation and cultivation of entrepreneurs.
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