Experts Predict Economic Recovery Should Begin in the Second Half of the Year - May 21, 2020

Experts Predict Economic Recovery Should Begin in the Second Half of the Year

One of the biggest questions we all seem to be asking these days is: When are we going to start to see an economic recovery? As the country begins to slowly reopen, moving forward in strategic phases, business activity will help bring our nation back to life. Many economists indicate a recovery should begin to happen in the second half of this year. Here’s a look at what some of the experts have to say.

Bharat Masrani, CEO Toronto-Dominion Bank
“The health crisis has meant parts of our economy are in a forced lockdown and that’s why the numbers are going to be pretty bad. But as lockdowns get lifted, people go back to work, then of course the economy will come back,” he said. “Now, it will be interesting to see how steep the V[-shaped recovery] is, but I certainly expect good growth coming out of the crisis.”
 
Candice Bangsund, portfolio manager for Fiera Capital
"Investors have shifted their focus away from disappointing news on a potential (COVID-19) vaccine, and today are focusing on further easing of restrictions and the gradual reopening of the economy all of which has boosted appetite for risky assets across the board," she said.  "We're close to levels where we were pre-COVID. That's a positive sign.”
 
And given our Canadian economy is related to the United States, it is also important to hear what is being predicted south of the border. 

Jerome Powell, Federal Reserve Chairman 
“I think there’s a good chance that there’ll be positive growth in the third quarter. And I think it’s a reasonable expectation that there’ll be growth in the second half of the year…
So, in the long run, I would say the U.S. economy will recover. We’ll get back to the place we were in February; we’ll get to an even better place than that. I’m highly confident of that. And it won’t take that long to get there.”



We’re certainly not out of the woods yet, but clearly many experts anticipate we’ll see a recovery starting this year. It may be a bumpy ride for the next few months, but most agree that a turnaround will begin sooner rather than later.

During the planned shutdown, as the economic slowdown pressed pause on the nation, many potential buyers and sellers put their real estate plans on hold. That time coincided with the traditionally busy spring real estate season. As we look ahead at this economic recovery and we begin to emerge back into our communities over the coming weeks and months, perhaps it’s time to think about putting your real estate plans back into play.

Bottom Line
The experts note a turnaround is on the horizon, starting as early as later this year. If you paused your 2020 real estate plans, let’s connect today to determine how you can re-engage in the process as the country reopens and the economy begins a much-anticipated rebound.  Feel free to call me 416-522-1112 or send me a message to discuss.
 

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