Experts Say the Worst of the Economic Downturn Could Be Over

The economy is not where it was when the year began, but it is turning around toward that.

According to NewsWest 9, local economist Mickey Cargile says the worst of the downturn could be over.

"Oil prices have bounced back they've almost doubled back up to around $40 and they seem relatively stable at that price," says Cargile.

Crude oil closed at just over $40 a barrel yesterday (July 22, 2020), and Cargile says oil prices should be fully recovered by the end of the year.