The US economy is set to fully recover to pre-COVID levels this quarter – a feat that took more than 3 years after the last financial crisis

  • Date: 08-Apr-2021
  • Source: Business Insider
  • Sector:Economy
  • Country:Middle East
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The US economy is set to fully recover to pre-COVID levels this quarter – a feat that took more than 3 years after the last financial crisis

Real gross domestic product for the US economy is likely to retake its pre-coronavirus levels this quarter, economists predict.

The measure of GDP “” which provides an inflation-adjusted snapshot of overall economic value “” is set for a much faster recovery than after the financial crisis that ran from 2007 to 2009, when the economy took more than three years to regain its pre-crisis size, according to economists at German lender Commerzbank.

"GDP is expected to return to pre-crisis levels as early as the current quarter," wrote Commerzbank economists Bernd Weidensteiner and Christoph Weidensteiner in a note.

They added that US



real GDP

took 13 quarters to reach its pre-crisis peak following the financial crisis.

"High-frequency data show that the US economy gained noticeable