US Congress predicts GDP to be close to minus 40% 10:09 on April 25th with the new Corona
As the spread of the new coronavirus spreads and the impact on the US economy becomes more serious, the US Congress said that the growth rate of GDP (Gross Domestic Product) will fall to nearly -40% annually in the three months from this month, and the unemployment rate will be 14%. We have released a prediction that we will jump to%.
This was announced by the US Congressional Budget Office on the 24th.
According to this, the growth rate of GDP (Gross Domestic Product) in the second quarter of the United States during the three months from this month to June will be "minus 39.6%" on an annualized basis.
The forecast for this period is the worst since 1947, when the "minus 28%" announced on the 2nd of this month began collecting statistics, but this time it has dropped further by 10 points or more.
In the United States, due to the spread of the new coronavirus, economic activities have virtually stopped due to restrictions on going out, and the number of unemployed people has significantly increased, and the effects are becoming serious.
As a result, the average unemployment rate for the second quarter is expected to suddenly deteriorate from 3.8% in the first quarter to 14%.
According to the forecast, GDP will improve significantly from July to September of the third quarter, but it seems difficult to determine how far it will fall in the second quarter of this month.