Northwood University Economist Says Light at End of Tunnel Coming Sooner Than Expected for Economy
MIDLAND, Mich., April 17, 2020 /PRNewswire/ -- Most economists and business leaders are predicting the economy will take a very long time to recover from the shock brought on by the COVID-19 pandemic, and many are saying the economy may never look the same.
Dr. Timothy Nash who directs Northwood University's McNair Center for the Advancement of Free Enterprise and Entrepreneurship, believes the economy will return more quickly to pre-pandemic levels sooner than most—and could show signs of growth within a few months. He sees signs in the data that support his optimistic and somewhat contrarian view, but believes the window of opportunity will not stay open long.
"It is critical that government and business work closely together over the next three weeks to maximize benefits of testing and social distancing," said Nash. "This should allow large segments of the U.S. economy to be responsibly opened, possibly driving double-digit GDP growth in Q3 and Q4."
According to the index, the economy is just below 60 percent of the way back to pre-coronavirus levels, with optimism slowly returning.
The index follows seven variables, is updated daily and can be found here: https://mcnair.northwood.edu/covid-19-optimism-index
Northwood University's McNair Center for the Advancement of Free Enterprise and Entrepreneurship is a premier think-tank generating information focused on the study, advocacy and expansion of the free-market process and the creation and cultivation of entrepreneurs.
ABOUT NORTHWOOD UNIVERSITY
Northwood University is committed to developing leaders of a global free-enterprise society and prepares students for success in their careers and communities. Rooted in the Northwood Idea, the university promotes the importance of free enterprise, ethics, individual freedom and responsibility.
Private, nonprofit, and accredited, Northwood specializes in managerial and entrepreneurial education at a full-service, residential campus in Midland, Michigan. The Adult Degree Program is delivered in multiple states and online for students with transfer credits and work experience who are looking to complete their undergraduate degree. The DeVos Graduate School of Management offers MBA and Master of Science degrees in Finance, Business Analytics, and Organizational Leadership with day, evening, and online delivery options. The Doctor of Business Administration (DBA) program is delivered online, with a differentiated focus on leadership and business analytics using qualitative and quantitative methodologies. International education is offered through study abroad and at International Program Centers in Switzerland, China (Changchun and Wuxi), and Sri Lanka. For additional information regarding Northwood University, go to www.northwood.edu.
SOURCE Northwood University
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