Maybe economic damage from the coronavirus is more contained than collateral.
Declines in the nation's second quarter Gross Domestic Product [GDP] were concentrated in a few industries, making it more likely that the economy can begin to recover by the second half of this year or the first half of 2021, says Calvin Schnure, a senior economist at the National Association of Real Estate Investment Trusts (Nareit) during a weekly podcast.
Schnure said the second quarter GDP figures released the first week of August showed a 32.9 percent annualized rate of decline. He said the quarterly figure was in line with expectations but added, "the economic decline was front-loaded," as state-imposed shutdowns took effect.
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Suzette Parmley
Trenton Correspondent who covers the N.J. Supreme Court, Governor, Legislature. She also contributes to The Legal Intelligencer and law.com. Suzette joined New Jersey Law Journal in Jan. 2019 from the Philadelphia Inquirer where she was a former Trenton Statehouse Correspondent and Business Reporter/Columnist. Awards: 1st Place for 2020 coverage of NJ Supreme Court; 2019 Specialized Writing Category, 5-time winner of the Business Financial Writing Portfolio Award from the New Jersey Press Association. Graduate of the Fels Center of Government/University of Pennsylvania. Email: [email protected] or follow on Twitter: @SuzParmley
