Hollywood sign hikes, water parks, hair salons: News from around our 50 states

Arizona State University economists say the state’s economic slide due to the coronavirus pandemic will last for months but be followed by a quick rebound that results in recovery by early 2021.

Economics professors predicted a recession of three to nine months during an annual forecasting webinar presented by the Economic Club of Phoenix. They expect the depression to be followed by a quick recovery if consumer spending increases with help from the federal stimulus.

Professor of Economics and Director of the L. William Seidman Research Institute Dennis Hoffman and Research Professor of Economics and Director of the JPMorgan Chase Economic Outlook Center Lee McPheters talked about what Arizona's recovery from COVID-19 will look like.

In this article published May 11, 2020, in USA Today:

Professor Dennis Hoffman said there’ll be 'some startling numbers in the meantime, including state unemployment rates above 15%. But Hoffman and fellow economics professor Lee McPheters said the recovery will be V-shaped as consumer spending and service industries rebound. That’d put the state in a position to return to normal by early 2021, they said.