The economy took a big hit in the first quarter of 2020.
Even though some parts of the country are starting to re-open, Investment Advisor Mark Grywacheski says the damage has already been done.
"For the second quarter, we're probably looking at an economic growth rate of minus 30%," Grywacheski said Monday, May 4, during Your Money on Good Morning Quad Cities. "That is going to be the biggest quarterly economic growth rate decline in American history."
Grywacheski says the economic growth rate will turn positive again when state leaders decide to allow their businesses to open back up. The economic drop didn't have a huge impact on the stark market though, on the final day of April.
What's allowed the stock market to stay up while the economy could soon have its worst quarter ever? Grywacheski got into all that Monday. Your Money with Mark airs between 5 and 5:30 a.m. every Monday on Good Morning Quad Cities.