US economy is now in a recession as economic activity, including construction, grinds to a halt

As society necessarily repositions itself in order to limit the spread of the novel coronavirus (COVID-19), economic analysts are forecasting that the American economy has already entered into a near-term recession.

Researchers at the University of California, Los Angeles Anderson School of Management issued a revised economic forecast today stating that the US economy has already stopped growing and will "remain in recession through the end of September," The Los Angeles Times reports. 

The report indicates that economic activity will fall by 0.4% for the first quarter, which ends March 31st. Further, the report estimates that economic activity will contract by 6.5% in the second quarter and by an additional 1.9% in the third. If the pandemic is handled sometime this summer, the analysts predict, the economy could see 4% growth in the fourth quarter of 2020. 

The report comes on the heels of a revised economic analysis from banking giant Goldman Sachs that also anticipates a recess...