(Source: Imgflip)
This Looks Like It Will Be A Historic Recession...
Economists and analysts are updating their economic forecasts with the first hard data from the effects of the global fight against the coronavirus.
To say that the numbers are grim would be an understatement.
UBS estimates a 10% decline in Q2 US GDP.
Bank of America estimates a 12% Q2 contraction, worse than the 1958 single-quarter record of -10%.
Deutsche Bank exected -12.9% GDP growth in Q2 and -10% growth for the entire world.
JPMorgan expects -14% GDP growth and unemployment to rise