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Tuesday, Apr 21, 2026

Coronavirus to Cost U.S. $540 Billion: Chapman

The coronavirus will cost the American economy about $540 billion, Chapman University economists James Doti and Raymond Sfeir tell the Business Journal.

They predicted the U.S. gross domestic product will decline in both the second and third quarters, which means a recession, followed by a rebound in the fourth quarter.

The pair, who are among the nation’s most accurate predictors of GDP, will publish their findings in the March 16 print edition of the Orange County Business Journal.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

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