Goldman Sachs has a great powerpoint on Coronavirus and the US economy.  Some of the highlights.

• The coronavirus will reduce US real GDP on an annualized basis by about 35% for the second quarter of 2020.  US GDP will bounce back with annualized growth of about 15% in the third quarter of 2020 and annualized growth of 10% in the fourth quarter of 2020 due to the impact of the federal stimulus.  Real US GDP will decline 6.2% for the full year 2020 and then grow by 5.5% in 2021.

• The 2020 Cares Act stimulus is huge.  At $2.2 trillion, it’s three times the size of the recovery act Congress passed in 2009 and equal one half of the entire year’s federal spending.  Goldman considers the stimulus well-targeted to address affected businesses and institutions.

Insider’s take:  The US economy is resilient and will recover as coronavirus abates and the federal stimulus checks start circulating in the economy.  What does this mean for out of home?  During the great recession US out of home revenues were down 19% in a year when real GDP declined by 6%.    We could see the same sorts of numbers of out of home for 2020.

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