Economist on GDP: ‘If we get positive news about a vaccine consumers will become more confident’

Concern rises as GDP number plunges because of the coronavirus.

The Annie Frey Show
July 30, 2020 - 3:40 pm

Dr. Michael Busler said a 33 % drop in one quarter is the worst drop ever recorded.

“As bad as this looks, I’m not that worried,” he said. “The decline occurred all in the month of April.”

The number of new jobs created in May was 2.8 million, a very high amount that has been created in one month.

Busler said the entire decline happened in April and then May and June we were doing fine again.

The reality is we just do not quite know since we have never had something like this happen before.

“What I am worried about the most is how consumers will react,” he said.