The U.S. economy in the first quarter of 2020 shrunk by 4.8%, and the second-quarter is expected to be five times worse due to the partial shutdown of the economy.
Consumption plunged at a rate never before experienced, according to the newly released data from the U.S. Bureau of Economic Analysis.
Right now, a severe contraction is underway. The consensus forecast of the 60 economists surveyed in early April by The Wall Street Journal was that the U.S. would shrink 25.3% in the second quarter, and this terrible quarter would be followed by strong economic