U.S. Firms Foresee Intensifying Coronavirus Impact

Altig, David E.; Barrero, Jose Maria; Bloom, Nicholas; Davis, Steven J.; Meyer, Brent; Mihaylov, Emil; Parker, Nicholas B.

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U.S. Firms Foresee Intensifying Coronavirus Impact

Abstract: In late March—even before many states had issued shelter-in-place, stay-at-home, or shutdown orders—we noted that firms were bracing for a huge negative impact on sales revenues from developments surrounding the coronavirus. Results from our March Survey of Business Uncertainty (SBU)—a national survey of firms of varying sizes and industries—revealed that disruptions stemming from COVID-19 had led to sharp declines in expectations for year-ahead sales growth.

Keywords: COVID-19; Economic conditions; Surveys;