America remains in a deep downturn and is running a serious risk of a worsening recession that will last at least another year, economists warned Monday.
About half of the National Association of Business Economics members expect US gross domestic product — the broadest measure of the economy — won’t return to its pre-pandemic level until 2022. A majority of those experts also say the US job market will be back to its February level in 2022 at the earliest.
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Nearly 80% say there is a one-in-four chance of a double-dip recession — an economic downturn that begins to recover and worsens again before fully recovering.
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