Trademagazin > News and articles > Market News > The U.S. economy declined sharply in the first quarter
The U.S. economy declined sharply in the first quarter
The U.S. economy’s performance decreased at a steep pace in the first quarter after the coronavirus pandemic and austerity measures to curb its spread virtually halted the entire country in March.
According to the third final estimate, released by the Department of Commerce’s statistics institute on Thursday, gross domestic product (GDP) in January-March shrank by 5.0 percent year-on-year.
The data did not change from the second estimate, in line with analyst expectations. (MTI)
Related news
Company trend in 2024: a more positive half-year, but still a negative message
The lowest number of companies in the last five years…
Read more >A new approach to corporate management is taking over: this is how you can prepare your company for the AI era
The corporate sector is barely past the agile transition, the…
Read more >In the United States, producer prices rose more than expected in June
The US producer price index rose more than analysts had…
Read more >
More related news >
Related news
VOSZ Barometer – 2024. II. quarter: mandatory optimism or real growth?
The perception of inflation is still present in domestic companies,…
Read more >Fidelity: Three themes shaping investments in Q3
Has the post-epidemic normalization that we have been waiting for…
Read more >Large companies are resistant to economic uncertainty
Restrained expectations characterize the domestic corporate sector for the next…
Read more >