China News Service, Washington, April 29 (Reporter Shahan Ting) The US Department of Commerce announced on the 29th that US economic data for the first quarter of this year showed that due to the "closed door" caused by the new coronary pneumonia epidemic, the actual GDP of the US in the first quarter Value (GDP) fell at an annual rate of 4.8%, the largest decline since the 2008 financial crisis.
The first-quarter GDP data of the United States is the first decline since the first quarter of 2014, and it is also the largest decline since the fourth quarter of 2008 fell by 8.4%.
Statistics show that personal consumption expenditures, which accounted for about 70% of the US economy in the quarter, plummeted by 7.6%, the worst performance since 1980; non-residential fixed asset investment, reflecting the investment status of enterprises, fell by 8.6%; exports fell by 8.7 %, Imports fell by 15.3%.
The US Department of Commerce stated that the US economy declined in the first quarter, partly because of the rapid changes in demand caused by the epidemic. However, the data released that day still failed to fully reflect the full impact of the epidemic on the US economy, and revised data will be released later.
Capital Economics chief economist Paul Ashworth said that in the first quarter, only two weeks after March, "closed" due to the epidemic has "caused an economic disaster", and the economic data in the second quarter will definitely be worse. .
Affected by the new Coronary Pneumonia epidemic, US states have issued anti-epidemic measures such as the "Home Order" since mid-March, and requested non-essential operating sites to be "closed."
The US Department of Commerce usually makes three estimates of quarterly economic data based on continuously improving information. The revised value of economic data for the first quarter will be announced on May 28. (Finish)