Where We Are Now: Two Charts from UCLA Anderson Forecast

Real GDP is now about as far below the previous peak as during the depths of the Great Recession

Source: Federal Reserve Bank of St. Louis FRED and UCLA Anderson Forecast
Note: Real Gross Domestic Product, Billions of Chained 2012 Dollars, Quarterly, Seasonally Adjusted Annual Rate, Peak GDP for 2008 recession in Q2 2008, Peak GDP for 2020 recession in Q4 2019, Quarterly data through 2020 Q3.

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The goods economy has fully recovered; the services economy has not

Source: Federal Reserve Bank of St. Louis FRED and UCLA Anderson Forecast
Note: Real Personal Consumption Expenditure: Goods and Services, Billions of Chained 2012 Dollars, Monthly, Seasonally Adjusted Annual Rate

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Source: https://www.anderson.ucla.edu/documents/areas/ctr/forecast/FoDi/ForecastDirect_No_2.pdf