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Recession Bound

In this morning’s Houston Business Journal, a story by Mr. Chris Mathews referenced BBVA USA chief economist, Mr. Nathaniel Karp. Mr. Karp indicated that the bank is forecasting negative GDP growth for the U.S. through June 30 due to COVID-19. Additionally, Mr. Karp suggested that Q2 could experience the largest drop in economic activity since the Great Depression. Wow! That is discouraging news! I like to see the glass at least half-full though. So let’s look at the positives… (1) Q3 will be much better; (2) businesses will be leaner and more efficient when we come out of this; (3) Q4 will be better than Q3; and (4) as a country and global community we will have survived a horrible life-changing pandemic. Friends, the future is bright, but we have to make it bright! Stay focused. Stay positive. Keep the faith.


Jeff Newkirk, Founder & CEO, PEM Consulting Group – a management consulting firm, pemconsultinggroup.org 281.591.4747


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Houston, Texas

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