T - Where to Look for Recession-Proof ETFs in 2020
The stock market may be in an optimistic frame of mind, but the U.S. economy is not in a good place right now. The latest report from the U.S. Bureau of Economic Analysis (BEA) estimates that the U.S. real gross domestic product (GDP) decreased at an annual rate of 32.9% in the second quarter of 2020. That's the fastest, steepest economic contraction in modern history.
Optimists will argue that the cause of the second-quarter drop-off, shelter-in-place orders, is now a thing of the past. But there's another economic datapoint that implies we're not out of the recession woods just yet. In the last two weeks of July, unemployment claims started rising again, after declining for nearly four months.
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