- Christophe Barraud, chief economist of the broker-dealer Market Securities, has been ranked Bloomberg's most accurate forecaster of US economic data eight years in a row.
- He told Business Insider that the US won't return to its fourth quarter 2019 GDP of 2.1% until at least 2022, and for some European countries, a recovery won't happen until 2023.
- "It will take a long time for life to return to normal," Barraud told Business Insider.
- Read more on Business Insider.
The US economy has a long road of recovery ahead from the shock of the coronavirus pandemic, and that could weigh on the stock market's epic rally, according to Christophe Barraud, chief economist of the broker-dealer Market Securities.
The pandemic slammed the US economy, putting millions of Americans out of work and leading to a 5% slump in gross domestic product in the first quarter of 2020. And, it's going to get worse — economists estimate that US GDP will slump more than 30% in the second quarter, before returning to growth at the end of the year.
See the rest of the story at Business Insider
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See Also:
- These 6 charts from the June jobs report show how much the economy has recovered — and how much further it has to go
- 'We are still in a deep economic hole': 5 economists explain why the June jobs report is weaker than it appears
- US economy smashes forecasts, adds 4.8 million jobs in June as unemployment declines to 11.1%
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