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Last updateFri, 03 Apr 2020 8pm

Manufacturing & The Economy

Coronavirus May Cause Economy to Contract in Second Quarter

Economists from six different financial firms believe that the effects of the coronavirus on the U.S. economy will cause a contraction of growth in the second quarter for the first time since 2014, with forecasts ranging from -0.1% to -2.0%. It should be noted, however, that many analysts still expect some growth in the second quarter.

“Growth will likely bounce back in the third quarter, the forecasts show, as fiscal stimulus works its way through the economy and factories reopen to stabilize supply chains,” Bloomberg reports.

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