The View from the Base of Recovery Mountain
Notes on the Week Ahead - A podcast by Dr. David Kelly - Mondays
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New GDP data released last week confirmed that the 2020 recession has been the deepest in over 70 years, with a peak-to-trough decline in real output of 10.6%. This, of course, was already evident in monthly data on consumption, employment, trade and inflation and has been reflected in a very sharp decline in corporate profits.
