PHOENIX (AP) – Arizona State University economists say the state’s economic slide due to the coronavirus pandemic will last for months but be followed by a rebound that results in a recovery by early 2021.
Economics professors predicted a recession of three to nine months as they spoke Tuesday during an annual forecasting webinar hosted by the W.P. Carey School of Business and the Economic Club of Phoenix.
They said they expect the trough to be followed by a swift recovery if consumer spending kicks in with an assist by heavy federal spending.
Financial tips for the COVID-19 pandemic
The coronavirus pandemic is impacting everyone differently. Here are some helpful tips to keep you financially stable during this difficult time.