State of & Outlook US GDP 2020-2022

I sincerely hope that the reader and his/her families are well and that the economic impact of the current situation has not been too severe. We will not elaborate on the pandemic itself, but rather focus on what we think is a most likely economic future based on the forecasts of the most reputable economists, financial institutions and business leaders we follow and will offer a cautious opinion. Despite the fact, that what we are living through has never happened in our lifetimes, events like these have happened many times in the more distant history. Since the 2nd quarter will be very dismal in regards to construction activity, due to the nationwide shut-down, we will revisit actual construction activity in the late fall issue as in the previous reports when we have 3rd quarter numbers to compare side by side.

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