Latest Mark Zandi News

FILE - In this July 13, 2020 file photo, a For Rent sign hangs on a closed shop during the coronavirus pandemic in Miami Beach, Fla.  Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about the likelihood of any sustained recovery the rest of the year. (AP Photo/Lynne Sladky)

US is expected to report a record-breaking economic plunge

Jul. 29, 2020 2:33 PM EDT

WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year. A huge plunge in consumer spending as people stayed home and avoided shopping,...

Senate Majority Leader Mitch McConnell of Ky., during a news conference on on Capitol Hill in Washington, Monday, July 27, 2020, to highlight their proposal for the next coronavirus stimulus bill. McConnell is joined by, from left, Sen. John Cornyn, R-Texas, Sen. Lamar Alexander, R-Tenn., Sen. Roy Blunt, R-Mo., Sen. Richard Shelby, R-Ala., Sen. Tim Scott, R-S.C., Sen. Lindsey Graham, R-S.C., and Sen. Mitt Romney, R-Utah. (AP Photo/Susan Walsh)

Mnuchin, Pelosi talk virus relief; GOP slashes jobless aid

Jul. 28, 2020 12:18 AM EDT

WASHINGTON (AP) — Unemployment assistance, eviction protections and other relief for millions of Americans are at stake as White House officials launch negotiations with House Speaker Nancy Pelosi on a new coronavirus aid package that's teetering in Congress ahead of looming deadlines. While Senate...

Senate Majority Leader Mitch McConnell of Ky., during a news conference on on Capitol Hill in Washington, Monday, July 27, 2020, to highlight their proposal for the next coronavirus stimulus bill. McConnell is joined by, from left, Sen. John Cornyn, R-Texas, Sen. Lamar Alexander, R-Tenn., Sen. Roy Blunt, R-Mo., Sen. Richard Shelby, R-Ala., Sen. Tim Scott, R-S.C., Sen. Lindsey Graham, R-S.C., and Sen. Mitt Romney, R-Utah. (AP Photo/Susan Walsh)

White House, Democrats at odds on virus aid but talking

Jul. 27, 2020 9:08 PM EDT

WASHINGTON (AP) — Unemployment assistance, eviction protections and other relief for millions of Americans are at stake as White House officials launched negotiations late Monday with House Speaker Nancy Pelosi and Democratic Senate leader Chuck Schumer on a new coronavirus aid package that’s...

Sarah Trubnick, owner of The Barrel Room, poses for photos while interviewed at the restaurant during the coronavirus pandemic in San Francisco, Tuesday, July 14, 2020.  The Barrel Room, a San Francisco wine bar and restaurant, cautiously reopened this month, hoping to salvage as much of 2020 as possible.  But as infections climb, Trubnick isn’t taking anything for granted. “We are prepared at any minute to close again,’’ she said. “It’s a very stressful situation.’’ (AP Photo/Jeff Chiu)

As restaurants endure economic losses, others feel pain, too

Jul. 22, 2020 11:03 AM EDT

WASHINGTON (AP) — Restaurants helped revive the U.S. economy after the Great Recession of 2007-2009. This time? Don't count on it. As the nation struggles to rebound from a now-resurgent coronavirus, restaurants seem much less likely to deliver an economic boost. They’ve suffered a heavy blow from...

FILE - In this June 26, 2020, file photo, Ivanka Trump speaks during a meeting with the American Workforce Policy Advisory Board, in the East Room of the White House, in Washington. A new White House-backed ad campaign aims to encourage people who are unemployed or unhappy in their jobs or careers to “find something new.” (AP Photo/Evan Vucci, File)

White House-backed campaign pushes alternate career paths

Jul. 14, 2020 5:58 PM EDT

WASHINGTON (AP) — Presidential adviser Ivanka Trump on Tuesday unveiled a White House-backed national ad campaign highlighting alternative ways to start a career, an initiative targeting students, mid-career workers and the millions of people who are now unemployed because of the coronavirus. Called...

FILE - In this June 4, 2020 file photo, a pedestrian wearing a mask walks past a reader board advertising a job opening for a remodeling company, in Seattle. U.S. companies added nearly 2.4 million jobs in June, according to a private survey, a large gain that still leaves the job market far below its pre-pandemic levels. The payroll company ADP said that small businesses reported the largest gain, adding 937,000 jobs. Construction firms and restaurants and hotels also posted big increases in hiring. (AP Photo/Elaine Thompson, File)

Survey: Companies added 2.4 million jobs in June

Jul. 1, 2020 10:11 AM EDT

WASHINGTON (AP) — U.S. companies added nearly 2.4 million jobs in June, according to a private survey, a large gain that still leaves total employment far below its pre-pandemic levels. The payroll company ADP said Wednesday that small businesses reported the biggest increase, adding 937,000 jobs. Among...

An empty parking lot is seen at a temporarily closed Kohl's department store, Wednesday, April 29, 2020, in Havertown, Pa.  Devastated by the coronavirus, the U.S. economy is sinking.  Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year.   (AP Photo/Matt Slocum)

US GDP fell at 5.0% rate in Q1; worse is likely on the way

Jun. 25, 2020 1:04 PM EDT

WASHINGTON (AP) — The U.S. economy shrank at a 5.0% rate in the first quarter and a vastly worse performance is expected in the current three-month period, when the coronavirus pandemic began to spread across the U.S. The Commerce Department reported Thursday that the decline in the gross domestic product,...