US GDP Shrank 4.8% in the First Quarter Amid Biggest Contraction Since the Financial Crisis

April 29, 2020

Article by:  Jeff Cox

• GDP in the first quarter contracted 4.8%, compared to estimates of a 3.5% drop, the Bureau of Economic Analysis reported Wednesday.
• This was the first negative reading since the first quarter of 2014, though not as bad as the worst of the financial crisis.
• Economists expect the Q1 reading to decline even more when the final revisions are issued.

Read the full article:  https://cnb.cx/3aO2SIE