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Executive Summary
The United States and subsequently Connecticut is on the precipice of economic disaster. Driven exclusively by the novel coronavirus global pandemic, the U.S., and Connecticut in particular, are in for a rough ride over the next few years. This edition of the Connecticut Economic Activity Report is a precursor of things to come.
As you can see from the “dashboard” below, the forecasts for our key performance indicators (KPIs) are headed in the wrong direction, showing the early signs of the pandemic’s economic impact, as it migrates from Asia through Europe and begins to hit our shores. Reports like this are backward-looking in their nature, allowing analysts, in this case, our Economics students, to delve into the details and critically analyze the inputs of each KPI to better understand what happened and why.
This edition of the University of New Haven’s Connecticut Economic Activity Report not only reports on what happened over the last quarter but begins to look toward Connecticut’s recovery, postCOVID-19. As such, one of our economics and business students, Hannah Providence, has conducted a mini-Delphi survey with a group of business, industry, and academic experts to predict what
Connecticut Performance at a Glance
KPI
Connecticut Employment STATUS
Real GDP
Roadway Infrastructure Spending
CPI — Energy
Economic Performance Index
Housing Starts
Venture Capital Investment
*Forecast factors in information resulting from COVID-19 pandemic.
the Connecticut recovery will look like. Additionally, Assistant Professor Patrick Gourley, Ph.D., has provided an article focused on graduating college seniors in the COVID economy, posing the question: should they attempt to enter a deeply recessionary economy or stay in school and obtain a graduate degree? Both of these articles are timely and forward-looking.
Finally, this report has now become an online publication given the COVID-19 protocols. Along with the University of New Haven Collective, a live blog of reports and analyses from our students and faculty, which can be found at http://unheconomicscollective.ning.com, you can stay abreast of the most up-to-date economic data and analysis available.
Michael Driscoll, EMBA ‘87 B.S.M.E.T., Roger Williams University
Managing Editor Capstone Coordinator Adjunct Faculty
