The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on March 17, 2020, 04:10:03 pm
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U.S. entering coronavirus recession: S&P Global
By Niv Elis - 03/17/20 12:00 PM EDT
The U.S. could already be entering a recession because of the coronavirus pandemic, which has shuttered bars and restaurants and drastically changed American life, according to a Tuesday analysis from S&P Global.
"While economic data for March is just starting to be released, the severity of the blow from the coronavirus leads us to believe that the U.S. is entering recession — if not already in one," the financial company wrote in a research note Tuesday.
The note said the economy could shrink by 1 percent in the first quarter of 2020 with a huge 6 percent drop possible in the second quarter. Two consecutive quarters of economic contraction meet the technical definition of a recession.
The U.S. could already be entering a recession because of the coronavirus pandemic, which has shuttered bars and restaurants and drastically changed American life, according to a Tuesday analysis from S&P Global.
"While economic data for March is just starting to be released, the severity of the blow from the coronavirus leads us to believe that the U.S. is entering recession — if not already in one," the financial company wrote in a research note Tuesday.
The note said the economy could shrink by 1 percent in the first quarter of 2020 with a huge 6 percent drop possible in the second quarter. Two consecutive quarters of economic contraction meet the technical definition of a recession.
The analysis said the economy could swing back in the second half of the year, but the overall outcome is expected to be flat. Before the outbreak, S&P Global had predicted 1.9 percent growth this year.
more
https://thehill.com/policy/finance/488005-us-entering-coronavirus-recession-sp-global
The analysis said the economy could swing back in the second half of the year, but the overall outcome is expected to be flat. Before the outbreak, S&P Global had predicted 1.9 percent growth this year.
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This PANIC induced by Fake News and simpletons should make the Democrats very happy.
Anything to take Bad Man down, even at the cost of all Americans.
80,000 died of the flu two years ago.
To date, 85 died of flu and PANIC is controlling the world. How happy this must make Climate Change Wackos, with everyone going nowhere and businesses closing down.
Welcome to Liberal World.
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The Great Carnac predicts the next The Hill issue will contain a poll showing Trump's popularity falling.