Last year witnessed a significant earnings recession, with a lack of pricing power despite a surprising stock market surge. The economy faced a dual shock from both demand and supply due to the pandemic, leading to unprecedented unemployment rates potentially exceeding 20%. Projections suggest a staggering contraction in GDP, with estimates indicating a decline of at least 40% in the U.S. for the second quarter, while global GDP may drop by 10% this year. However, signs of recovery are emerging as the economy begins to show a pulse.
