March 30th, 2020
US Economic Recovery After COVID-19 – It May Take Another 3 Years
As per a new report from consultancy McKinsey & Company, the economies of the United States and Eurozone could take until 2023 to recover from the impact of the coronavirus crisis. According to the report, in case the public health response fails to prevent a revival after the coronavirus crisis, the economic recovery for the world will remain muted. Even in such scenario, the global economy would recover to the pre-crisis level by Q3 of 2020. However, it will be the end of Q1 of 2023 until the U.S. economy recovers.
On the other hand, if the public health response comes out to be more successful, the U.S. economy could recover by the Q3 of 2020, says McKinsey.
AIS will continue to monitor the impact of COVID-19 on the economy of the US. Also, we will provide regular insights regarding the effect of the pandemic on the businesses, bankruptcies, and other default activities.