The 2020 economic recession is the result of the COVID-19 pandemic; activities that were previously safe became higher risk, or had higher uncertainty about their safety, and consumers and businesses changed their behavior in response. This health crisis is not yet resolved and its trajectory will continue to be the main factor in the economic recovery. Similarly, the improving understanding about which activities pose the highest risk and actions that can be taken to mitigate risk will continue to alter consumer and business preferences.
The Effect of the Coronavirus Pandemic on the Washington Region’s Economy
- Post author By SFI Admin
- Post date March 18, 2020
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The coronavirus pandemic has ended the longest business expansion on record. Unlike prior business cycles, the Washington region’s economy is not disproportionately insulated from its effects and will mirror the trajectory of the U.S. Based on a scenario in which the coronavirus affects normal operations through May 2020, the national economy is projected to contract 0.2 percent in 2020 and the Washington region’s economy will stall, increasing by 0.1 percent for the year. The effects will be most pronounced for service industries that rely on discretionary spending and those that have strong international ties, especially business that rely on international manufacturing.
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The Long Bridge is a two-track railroad bridge crossing the Potomac River between Arlington County, VA and Washington, D.C. A new two-track rail bridge, a fourth track addition in Alexandria and station improvements to L’Enfant, Crystal City, and Alexandria are being examined (the Long Bridge projects). These improvements would allow an increase of the total number of daily trains crossing the Long Bridge by 80 trains compared to a no-build scenario. The addition of 80 daily trains crossing the Long Bridge will benefit the national economy and the economies of Virginia, Maryland and the District.
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On Dec. 10, 2019, the Stephen S. Fuller Institute hosted its third annual Economic Forum in the Founders Hall Auditorium at the Schar School of […]
Planning for the Washington Region’s Future: Housing
- Post author By Keith Waters
- Post date December 12, 2019
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3rd Annual Economic Forum Remarks by Maura Brophy, Director of Transportation and Infrastructure, Federal City CouncilDownload remarks as a PDF>> First, I want to talk about why […]