According to an analysis by Apollo Chief Economist using data from Robert Shiller, Bloomberg, and the BEA, recessions have consistently led to declines in both real GDP and corporate earnings. Key Highlights: On average, U.S. real GDP drops by 2.3% during recessions. Meanwhile, S&P 500 nominal earnings fall by around 11%. The most severe EPS … Continue reading Historical Average Decline in GDP and Corporate Earnings During Recessions: Apollo Analysis