MARKET OUTLOOK FALL 2020 By Matthew Naeyaert,GreenStone Senior Credit Analyst, Capital Markets, and Nick Jablonski, GreenStone Credit Manager, Capital Markets. TO NO ONE’S SURPRISE, THE U.S. ECONOMY EXPERIENCED A SIGNIFICANT CONTRACTION DURING THE SECOND QUARTER AS A RESULT OF THE COVID-19 PANDEMIC AND THE RESULTING GOVERNMENT POLICIES AIMED AT SLOWING THE SPREAD OF THE VIRUS. REAL GDP DECLINED BY A STAGGERING 32% ON AN ANNUALIZED BASIS DURING THE QUARTER, AN ALL-TIME RECORD. WHILE THIS WAS CERTAINLY AN EYE-OPENING FIGURE, MORE RECENT ECONOMIC DATA IS SIGNALING THAT THIRD QUARTER GDP WILL SHOW SIGNIFICANT IMPROVEMENT AS THE U.S. ECONOMY HAS BEGUN TO RECOVER OVER THE COURSE OF THE SUMMER. .
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Fall 2020 — Partners
