Receive our newsletter – data, insights and analysis delivered to you
  1. Uncategorised
April 29, 2020

US economy falls by 4.8%

By Ellen Daniel

The US economy has contracted at an annual rate of 4.8%, the steepest slump since the 2008 recession. This brings the longest ever period of economic expansion in the US to an end.

It is predicted that gross domestic product (GDP) could drop by 30% in the next quarter, as many “stay-at-home”  measures were only implemented at the end of this quarter, with a sharp rise in unemployment also anticipated.

35 US states currently have stay-at-home orders in place, with eight states relaxing restrictions. According to Johns Hopkins University, there have now been 1,012,000 confirmed coronavirus cases in the US.

Related Companies

Content from our partners
Green investment: What gives Scotland multiple advantages
How Hengst helped to keep Germany’s charity “star singers” shining
How one power station prevented frequent shutdowns with three-stage air filtration
Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU