SOONER THAN EXPECTED

U.S. Has Already Entered Recession: UCLA Anderson Forecast

Economists at the school predict that the recession will last until the end of September if the pandemic ends in the coming months.

Economists at the UCLA Anderson School of Management released a forecast on Monday that says the U.S. economy is already in a recession as a result of the coronavirus pandemic. The forecast predicts that the recession will last until the end of September. The school released a more optimistic forecast just last week, saying that the U.S. economy is “at the midpoint between the coronavirus having a very minimal effect to it causing a full-blown recession.” The UCLA Anderson forecast on Monday says the virus has slowed economic growth by 0.4 percent in the first quarter and it will continue to do so at a 6.5 percent rate in the second quarter and a 1.9 percent rate in the third quarter. The economists predict that the economy could be revived by a four percent growth rate in the fourth quarter if the pandemic ends this summer.