Economists predict Arizona will see recovery by early 2021

When will Arizona's economy recover from the pandemic? Economics professors predicted a recession of three to nine months at an annual forecasting webinar presented by the Economic Club of Phoenix.

Economics professors predicted a recession of three to nine months at an annual forecasting webinar presented by the Economic Club of Phoenix.

In this story published May 9, 2020, on the Associated Press:

Professor Dennis Hoffman said there’ll be 'some startling numbers' in the meantime, including state unemployment rates above 15%.

– Dennis Hoffman professor of economics and director of the Seidman Research Institute

Following a dismal stretch from April to June, the second half of 2020 “could be stronger than many people expect,” McPheters said.

– Research Professor of Economics Lee McPheters, who is the director of the JPMorgan Chase Economic Outlook Center

There hasn’t been much impact in Arizona so far but measures such as requests for mortgage forbearance indicate there is stress on homeowners, Stapp said.

– Executive Director of the Master of Real Estate Development program Mark Stapp, who is the Fred E. Taylor Professor of Real Estate