Q-2 2020: Worst Ever.
The US economy contracted 31.7% from the first quarter to the second, right in line with expectations. The year-on-year change was -9.1%. Both are the worst-ever recorded (modern data).
Private consumption accounted for 80% of the decline, dropping 6.9% from Q-2 2019. Capital investment (one-third of the drop-off) fell 9%, exports were off 9.5%, and imports by 15%.
bea.gov
The US economy contracted 31.7% from the first quarter to the second, right in line with expectations. The year-on-year change was -9.1%. Both are the worst-ever recorded (modern data).
Private consumption accounted for 80% of the decline, dropping 6.9% from Q-2 2019. Capital investment (one-third of the drop-off) fell 9%, exports were off 9.5%, and imports by 15%.
bea.gov
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