New macro forecasts – Q2 GDP to fall at 40% pace

With the number of COVID-19 cases in the US skyrocketing and a rising share of the population under lockdown, we need to revise our macro forecasts quite significantly: We now expect second-quarter real GDP to fall at a 40% annualised pace, with employment declining by 14 million and the unemployment rate spiking to 12%.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access