Directional Wealth Management Company Overview

 

 

 

 

From the desk of Jim McCarthy, CFP®, ChFC®

October 2020 Monthly Outlook - A Long SLOG Recovery

The second quarter of 2020 was the mother of all economic contractions. Real GDP shrank at a 31.7% annual rate, the largest drop for any quarter since the Great Depression.  However, based on the economic reports we’ve seen so far, it looks like the third quarter will be the mother of all economic rebounds. The first thing to recognize is that even if the real GDP growth rate in the third quarter equals or exceeds the percentage drop in the second quarter, the economy is still in a very big hole.  It’s harder to grow out of a hole than it is to dig one. The bottom line is that a full economic recovery in the US is still multiple years away.

 

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