U.S. GDP Contracted 5% in First Quarter Instead of 4.8%
Thursday, 28 May 2020 19:53 WIB |
ECONOMY |PDB ASGDP AS
The U.S. economy contracted at an annual 5% pace in the first quarter instead of 4.8%, revised government data show. A downward revision to inventory investment mostly accounted for the downward revision, the Commerce Department said.
Looking ahead, economists surveyed by MarketWatch predict GDP will plunge at a 27.7% annual rate as people stayed home to try to stem the spread of the coronavirus.
Source : Marketwatch
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