The nation’s leading business economists are growing more pessimistic by the day about the chances for a sharp rebound from what they call an economic shock unlike any the country has ever seen.

“I won’t candy coat the outlook. It is obvious we will see a severe contraction,” Jack Kleinhenz, chief economist of the National Retail Federation, said on a conference call hosted by the National Association of Business Economics on Monday.

Initially, the hope was that the U.S. economy might quickly rebound once infections declined, restrictions on movement were lifted and fiscal stimulus kicked in. That was the V-shaped recovery scenario. Then economists began talking about a more stretched out or U-shaped recovery as cases rose, unemployment claims spiked and California, New York and

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