Economist Forecast Recovery to Begin Soon

Posted on: June 4th, 2020 by Editor

With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? 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.

According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020.

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.

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.


As reported by S&P in March, home price indexes across 19 metro areas reported positive growth rates ranging from 1.7% (Dallas, TX) up to 16.5% (Tampa, FL). With the national average sitting at 5.7%, twelve of the metro areas reported on exceeded this number. The vast majority of economists, analysts, and financial institutions are in unison, indicating an economic recovery should begin in the second half of 2020. Agreement among these
leading experts is stronger than ever.

Bottom Line to Relocation

As previously discussed, in earlier articles, housing is poised to help lead the way back for our economy. This one factor alone will create a tremendous boost for relocating families who may have been hesitate about accepting a move. A strong economy equals strong home prices, increasing overall relocation acceptance.

 

Have questions or want to learn more about Lawrence Relocation Services, please contact Ginny Taylor, Relocation Services Director, by email or by phone at 540-966-4550.