BAML Forecasts Apocalyptic 35%+ Annual GDP Plunge

BAML Forecasts Apocalyptic 35%+ Annual GDP Plunge

(New York)

Yes, you read that right, Bank of America is forecasting a 35%+ GDP fall for the YEAR, not just Q2. The bank thinks the Coronavirus downturn is so bad that the US economy will shrink 7% in Q1, 30% in Q2, and 1% in Q3, a cumulative 35.55% for the year. The downturn would be the worst to ever strike the US.


FINSUM: This is by far the bleakest projection we have seen. Goldman, for instance, sees 19% growth in Q3. So if the economy shrinks 35% this year, what is fair market value for the S&P 500?

  • stocks
  • bank of america
  • GDP
  • recession
  • bear market

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    Tags

    More Related Articles

    Info icon

    This data feed is not available at this time.

    Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.