Economic conditions at the start of a new decade changed significantly as the pandemic impacted economies across the globe.

As discussed in our Midyear Outlook, our baseline scenario of a sharp rebound in economic activity followed by a long climb to full recovery appears to be playing out.

In January, we published our 2020 Perspectives. At midyear, we find ourselves in a pandemic-induced recession with double-digit unemployment. Markets have plummeted and bounced upward but remain volatile. Read more to learn about INTRUST's midyear perspectives.

In January, the U.S. economy appeared healthy. Unemployment was low. Consumers were confident. Growth prospects remained positive for the foreseeable future. However, the 12-year U.S. economic expansion came to an abrupt halt in March, as effects of COVID-19 reverberated around the globe and across our nation. Now, recession in 2020 seems all but inevitable.

The U.S. economy will likely enter its 12th year of economic expansion in 2020, continuing the longest growth period in history.

Economies across the globe are showing signs of slowing and many investors are looking for implications for the U.S. economy and investment portfolios.