Amid The Crisis In The Economy, Two Good Anomalies
(May 1, 2020, 8 p.m. EST) - The U.S. economy in the first quarter of 2020 shrunk by 4.8%, and the second-quarter is expected to be five times worse due to the partial shutdown of the economy.
Consumption plunged at a rate never before experienced, according to the newly released data from the U.S. Bureau of Economic Analysis.
Right now, a severe contraction is underway. The consensus forecast of the 60 economists surveyed in early April by The Wall Street Journal was that the U.S. would shrink 25.3% in the second quarter, and this terrible quarter would be followed by strong economic growth of more than 6% for the next three quarters. These economists are the top names in the field.
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