US GDP contracted 4.8% in Q1. Overall GDP at $21.54 trillion

[F-22Raptor]

Real gross domestic product(GDP) decreased at an annual rate of 4.8 percent in the first quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2019, real GDP increased 2.1 percent.

Current‑dollar GDPdecreased 3.5 percent, or $191.2 billion, in the first quarter to a level of $21.54 trillion. In the fourth quarter, GDP increased 3.5 percent, or $186.6 billion (tables 1 and 3).

https://www.bea.gov/news/2020/gross-domestic-product-1st-quarter-2020-advance-estimate

 

[F-22Raptor]

Not as big of a drop as I was expecting. Q2 will be ugly though.

 

[MIRauf]

That is the general feeling, as long as these business / companies spend that $ Feds are pumping we may come out somewhat ok, else if they horde it then 70's oil slump will look like walk in the park.

US Jobs: Americans First.

 

[Get Ya Wig Split]

Q1 GDP Contraction: US 4.8% VS CHINA 6.8% (China lost)
https://defence.pk/pdf/threads/q1-g...vs-china-6-8-china-lost.663656/#post-12281007

Meanwhile Nasdaq almost 9000 today

 

[casual]

Q1 GDP Contraction: US 4.8% VS CHINA 6.8% (China lost)
https://defence.pk/pdf/threads/q1-g...vs-china-6-8-china-lost.663656/#post-12281007

Meanwhile Nasdaq almost 9000 today

Covid didn't hit US until last quarter of Q1. Q2 will be ugly.

 

[925boy]

Q1 GDP Contraction: US 4.8% VS CHINA 6.8% (China lost)
https://defence.pk/pdf/threads/q1-g...vs-china-6-8-china-lost.663656/#post-12281007

Meanwhile Nasdaq almost 9000 today

Nasdaq and NYSE, etc are RIGGED. People were even joking about how the S&P never goes down...what else could it be? its either rigged or/and based off printing money. Try again.

 

[riscol]

https://www.theguardian.com/busines...oyment-americans-jobless-coronavirus-pandemic

30 million unemployed Americans