The US economy will shrink nearly 40% in Q2, Deutsche Bank says - Business Insider

in a wave of coronavirus-induced layoffs. This is likely to continue, according to the report, and pull down second quarter GDP even further. An investor who oversees $300 billion at T.

Beyond 2020, the bank expects the economy to continue to gain steam as activity begins to normalize. The firm projects US GDP growth of 4.2% in 2021, and 2.7% in 2022. "We see the economy returning to a more trend-like pace of 2.2% growth in 2023 as real GDP finally recovers its Q4 2019 level in the back half of that year," Luzzetti wrote.

Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.

Well that's not good.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ask us anything about spending, saving, and investing your money during the coronavirus - Business InsiderWe want to help you make smart decisions with your money. Part of that is a commitment to addressing your most pressing questions about saving, investing, earning, and spending money
Source: BusinessInsider - 🏆 729. / 51 Read more »