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

SourceBusiness Insider
SectorEconomy
CountryMiddle east

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 ...read more...