LOS ANGELES, CA – Only 4 weeks ago, MI Headlines was concerned that indicators in the stock market were showing that cracks in the economy had started to show. At that time, the COVID-19 virus had not impacted the world as it has as of today.
Today, the Los Angeles Times is reporting that the United States is now in recession. That information is based on the report from Economists at the UCLA Anderson School of Management. They state that our economy has already stopped growing and will remain in recession through the end of September.
The forecast warned that its predictions could either be too pessimistic or too optimistic, depending on whether the coronavirus outbreak is worse than assumed or ends sooner than expected.