Sully describes ‘K’ shaped economic recovery model
SAN DIEGO (KUSI) – The U.S. economy continues to recover from six months of the COVID-19 pandemic and Sully explained on Good Morning San Diego that the recovery is looking a lot like the letter “K.”
“On one end of the economy are businesses that are soaring, as we abandoned offices and classrooms, settled in at home and pretty much stayed there.
Those sectors pointing up on the “K” include grocery stores and technology companies like Zoom and Amazon.
On the downward leg of the “K” are the airlines, restaurants and hotels that many of us haven’t gone near for six months.
And in this “K” recovery, “you have pockets of the economy that start to recover at an accelerated rate and others that are going to be in decline for a much longer period of time.”
Depending on where you sit in the COVID economy, business could be booming or on the brink of bankruptcy.
Long gone is the notion that we’ll have a V-shaped recovery a deep economic decline followed quickly by a sharp rebound.
Instead, what we’re looking at is a recovery that will be vigorous for some sectors while others remain in free-fall.
The situation is unlike anything we have ever seen and frankly, we are in pretty uncharted economic territory.”