Despite the tremendous growth in Q3 and sustained recovery in Q4, the damage done to the economy through nine months of COVID was insurmountable. To put things in perspective, GDP decreased in 2020 by 3.5% from 2019, marking the worst decline since 1946 (World War II), and it was the first time GDP declined since the financial crisis in 2009. The one bright spot was the M&A market that seemingly turned a blind eye to the events around it and produced strong value and volume.
Looking ahead to 2021, uncertainty and cautious optimism abound as a new administration takes office and the COVID vaccine is rolled out.
JJ Lane – Vice President