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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