After having warned for a recession in 2019, the US economy contracted in the first half of 2020. The heaviest decline occurred in the second quarter, with GDP crashing by 31%. In the 3rd quarter, GDP recovered partially, and positive GDP growth is also expected in the 4th quarter. However, the effects of the crisis, compounded by the pandemic, will continue to have an impact in the coming quarters.
Contents
- Economic activity
- Gross Domestic Product
- Labor market
- Inflation and prices
- Interest rates, credit, and banking
- Fiscal outlook
- International trade
Authors:
- Héctor Choy
Hector studied Industrial Engineering with a specialization in Operations Management at Universidad Francisco Marroquin (UFM). He is also an assistant professor of Economics at Centro Henry Hazlitt from UFM. In 2018, he received the Manuel Ayau Scholar Award. He enjoys learning, teaching, and reading. His areas of interest include statistics, politics, geography, economics, history, sacred music, and any combination of these.
- Olav Dirkmaat
Olav Dirkmaat is professor in economics at the Business School of Universidad Francisco Marroquín. Before, he was VP at Nxchange and precious metals analyst at GoldRepublic. He has a PhD in Economics from the King Juan Carlos University in Madrid. He has a master in Austrian Economics from the same university, as well as a master in Marketing Strategy from the VU University in Amsterdam. He is also the translator of Human Action of Ludwig von Mises into Dutch. He has a passion for investing, and manages funds for relatives, looking for investment opportunities in markets that are extremely over- or undervalued.
