;
Friday, August 12, 2022
  • About Us
  • Contact Us
  • Home
  • Blockchain
  • Business
  • Health
  • Lifestyle
  • Sports
  • Technology
  • Contact Us
No Result
View All Result
  • Home
  • Blockchain
  • Business
  • Health
  • Lifestyle
  • Sports
  • Technology
  • Contact Us
No Result
View All Result
No Result
View All Result
Home Business

The US Economy Has Dropped off about 4.8% in the First Quarter

Akansha Kesarwani by Akansha Kesarwani
April 30, 2020
in Business
0
US Economy
588
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

The hard times in US economy

On Wednesday, the commerce department declared the economy dropped off about 4.8% in the first three months of 2020, and it is an end to the longest economic expansion in the US.

The collapse in the economy is the steepest one since the last hard times during 2008. It indicates how this novel coronavirus has hit the US economy severely.

You might also like

THREE REASONS YOU SHOULD USE FOREX SIGNALS

How Businesses can Navigate the Complexities of Crypto Technologies for Banking and Finance

Announcing the Ape Gorilla Launch, a new NFT collection based on community education that provides networking and business support.

A huge part of the US economy is closed in March because of the pandemic, and the shut down triggered 26 million of the US people to file for unemployment advantages and destroying a decade of job gains at the end of this first quarter. The next set of numbers from the US commerce department will reflect the real scale of the impact more accurately.

What is the prediction?

A senior economic adviser to the White House, Kevin Hassett, has predicted that the GDP, which is the primary measure of the economic stability, could drop at an alarming rate of about 30% in the upcoming quarter. Goldman Sachs mentions that in the middle of this year, there can be 15% unemployment rate, which is currently 4.4%.

Since the end of the year 2008, the fall is the steepest quarterly decline in the GDP when the economy shrank by the rate of 8.4%. However, on the present forecasts, the drop-off could quickly oppose the economic failure of the Great Depression. In 1932, the US economy dropped off 13% over the year.

The chief economist at the PNC, Gus Faucher, said that the US economy was in hard times, and they had no idea how deep that could be. He also said that while the figure of the quarter seemed so bad, but that was nothing to what they could expect the next quarter. Most of the shutdowns had occurred at the end of the first three months of 2020. PNC was expecting a shrink of approximately 30% that would be the worst quarter in the history.

Tags: Coronavirus in USUS Economy
Previous Post

Traditional vs Digital Marketing: Where to Invest More?

Next Post

More People Are Logging into the Facebook in This Quarantine

Akansha Kesarwani

Akansha Kesarwani

Hey, I am Akansha, I am a Digital Marketer having more than 2 years of professional experience in the industry. Travel, Gaming, Blockchain & Cryptocurrency, Digital Marketing, Technology are some niches that I cover the most as a writer. Writing is my passion and when passion is taken as a career it gives you real peace of mind as its the best way to be sincere and give best to your profession.

Related Posts

THREE REASONS YOU SHOULD USE FOREX SIGNALS
Business

THREE REASONS YOU SHOULD USE FOREX SIGNALS

by Akansha Kesarwani
July 28, 2022
How Businesses can Navigate the Complexities of Crypto Technologies for Banking and Finance
Business

How Businesses can Navigate the Complexities of Crypto Technologies for Banking and Finance

by Abhishek Jariwala
April 22, 2022
Announcing the Ape Gorilla Launch, a new NFT collection based on community education that provides networking and business support.
Blockchain

Announcing the Ape Gorilla Launch, a new NFT collection based on community education that provides networking and business support.

by Ahmad
January 27, 2022
How to Know If Robo-Advisor is Right for You
Business

How to Know If Robo-Advisor is Right for You

by Akansha Kesarwani
March 21, 2021
Airbnb
Business

Should Physicians Have An Llc?

by Ahmad
August 27, 2020
Next Post
Facebook

More People Are Logging into the Facebook in This Quarantine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airbnb

Airbnb Is Rethinking the Product Offerings Because of COVID-19

April 28, 2020

Instagram Is Testing Photo Albums, Because Nothing Is Sacred Anymore

July 24, 2020

Categories

  • Axia
  • bitcoin
  • Blockchain
  • Business
  • Chatbot
  • Crypto
  • Cryptonews
  • Entertainment
  • Game
  • Health
  • Lifestyle
  • Metaverse
  • Press Release
  • Sports
  • Technology
  • Tezro
  • Uncategorized
  • World

Don't miss it

THREE REASONS YOU SHOULD USE FOREX SIGNALS
Business

THREE REASONS YOU SHOULD USE FOREX SIGNALS

July 28, 2022
The Role Of AI and Chatbots In Marketing
Chatbot

The Role Of AI and Chatbots In Marketing

July 13, 2022
Agora- The World’s First Shopping Metaverse
Metaverse

Agora- The World’s First Shopping Metaverse

July 21, 2022
Everything you need to know about TEZRO App
Tezro

Everything you need to know about TEZRO App

May 4, 2022
How Businesses can Navigate the Complexities of Crypto Technologies for Banking and Finance
Business

How Businesses can Navigate the Complexities of Crypto Technologies for Banking and Finance

April 22, 2022
A Brazilian Company That Came To Change The Blockchain Market
Axia

A Brazilian Company That Came To Change The Blockchain Market

March 30, 2022

ulaska.com is a new Canadian financial news website aimed at internet users who want to learn more about money and personal finance. We want to provide fascinating information that is both informative and entertaining to our target demographic.

Categories

  • Axia
  • bitcoin
  • Blockchain
  • Business
  • Chatbot
  • Crypto
  • Cryptonews
  • Entertainment
  • Game
  • Health
  • Lifestyle
  • Metaverse
  • Press Release
  • Sports
  • Technology
  • Tezro
  • Uncategorized
  • World

Browse by Tag

Amazon bitcoin bitcoin trading Blockchain Boeing 737 Max Business Businesses in New York City Champions League China Coca-Cola Coronavirus Coronavirus Lockdown Coronavirus Pandemic COVID-19 COVID-19 Pandemic Crypto market Crypto news Donald Trump Elon Musk Engineering Explore Bali Facebook Galaxy Note 10 Lite Golden Globes 2018 Google Grammy Awards Harbolnas India iPhone SE 2 Litecoin Market Stories OnePlus ransomware Samsung technology Tesla TikTok App UK UK business UK Economy UK Government United Stated USA WhatsApp Xiaomi

Recent News

THREE REASONS YOU SHOULD USE FOREX SIGNALS

THREE REASONS YOU SHOULD USE FOREX SIGNALS

July 28, 2022
The Role Of AI and Chatbots In Marketing

The Role Of AI and Chatbots In Marketing

July 13, 2022

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Blockchain
  • Business
  • Health
  • Lifestyle
  • Sports
  • Technology
  • Contact Us

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.