US Biweekly Economic – The economic assessments contained

The economic assessments contained herein may be incorporated into S&P Global Ratings ratings; however, ratings are determined and assigned by rating committees that make analytical judgments in accordance with S&P Global Ratings’ publicly available methodologies. While S&P’s current baseline scenario for the global economy assumes a slow recovery over the next year, the rise in CIV-19 and hospitalizations has raised concerns that our downturn scenario could become more severe. S&P PARTIES DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, FREEDOM FROM BUGS, ERRORS OR DEFECTS IN THE SOFTWARE, UNINTERRUPTED OPERATION OF THE CONTENT OR OPERATION OF THE CONTENT WITH ANY CONFIGURATION OF SOFTWARE OR HARDWARE. The opinions expressed herein are the independent opinions of S&P Global Economics, which is independent of S&P Global Ratings analysts, but provides them with forecasts and other information. To the extent that regulators permit a rating agency to recognize a rating assigned in another jurisdiction for certain regulatory purposes, S&P reserves the right to grant, withdraw or suspend such recognition at any time in its sole discretion. Strong momentum in the housing sector prior to the crisis and pent-up demand during the typically brisk spring season also contributed to a quick and strong recovery, despite high unemployment.