New Macroeconomic Forecasts See Drastic 2Q And Full 2020 Declines

New consensus forecasts from Blue Chip Economic Indicators and the Wall Street Journal were released late last week and economists responding to both publications’ surveys forecast breathtaking declines in real gross domestic product during the 2Q/2020. And Blue Chip said consumer spending 2Q will also crater. Both forecasts have real GDP negative 1Q/20 versus 4Q/19,…