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Corona 19 shocked the United States in the first quarter of last year to record -4.8%. It is the worst report card since the 2008 financial crisis, and it is predicted that the second quarter will be more serious.
Correspondent Correspondent Kim Yun-soo of Washington.
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US Department of Commerce said the first quarter of this year, US GDP and GDP growth rate were -4.8%.
Corona 19 shocked it back to negative growth in 2.1% in the fourth quarter of last year.
It was the first negative growth since the first quarter of 2014, which was -1.1%, and the worst growth rate since the fourth quarter of 2008 -8.4%.
The problem is that the outlook for the second quarter is much worse.
[Lary Kudrow / White House National Economic Commissioner: The recession will be deeper in the second quarter. (Now) I recorded a bad number, but in the second quarter, it will be much worse.]
There are many prospects that the growth rate in the second quarter will plummet from -30% to -40%.
As the GDP growth rate declines for the second quarter in a row, it is classified as a technical recession, and it is estimated that the US economy has actually entered a recession.
The Fed, the central bank of the United States, unanimously decided to maintain a zero-level interest rate for the time being at its regular meeting.
The Fed stressed that it would mobilize a full range of policy measures, particularly to support the economy.
The Fed's strong support policy led to a major gain in New York stocks.
In particular, the rise in oil prices and Ebola virus treatments proved effective in corona19.
US 1Q growth rate -4.8%… "It will be much worse in the second quarter"
2020-04-29T21:26:31.015Z
Corona 19 shocked US growth in the first quarter to -4.8%. It is the worst report card since the 2008 financial crisis, and it is predicted that the second quarter will be more serious.
Source: sbskr