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.
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