With all the distractions of the moment, it’s hard to remember that US GDP dropped 33% in the second quarter – the sharpest decline in history.
It looks, though, like the third quarter is poised for one of the biggest economic rebounds, with estimates around 30%, depending on the impact of stimulus programs that have (or have not) been enacted.
The 2020 downturn may not even qualify as a recession. But businesses are split between COVID-sensitive sectors – which aren’t expected to recover anytime soon – and many in B2B, that have been recovering for months…
▶︎ Read Sept 28 2020 newsletter: here
▶︎ Chart of the Week: here (by Refinitiv LPC – 4Q 2020 Middle Market Outlook Survey)