U.S. GDP Sinks 4.8% As Virus Ends Expansion
“If the economy fell this hard in the first quarter, don’t ask how far it will crater in the second quarter because it is going to be a complete disaster."
IMF Predicts Worst Slump Since Great Depression
The Fund now expects the global economy to contract by 3% this year due to the coronavirus pandemic.
Moody’s Sees Potential Recovery in 2nd Half of 2020
But downside risks to growth remain high as the spread of the coronavirus and duration of lockdowns remain “highly uncertain."
U.S. Productivity Grows at Revised 1.2% Rate in Q4
After the third-quarter contraction, “There is hope that the recent slight productivity uptick may lead to better results in the future."
Fed Cuts Interest Rates in Emergency Virus Move
“We saw a risk to the outlook of the economy [from the coronavirus outbreak] and we chose to act," Fed Chair Jerome Powell says.
OECD Urges Immediate Action on Coronavirus
“The virus risks giving a further blow to a global economy that was already weakened by trade and political tensions."
U.S. Economy Posts Smallest Annual Gain Since 2016
“Certainly, the economy isn’t firing on all cylinders, but it also doesn’t appear to be at risk of stalling out either.”
Do CEOs Have an Economic Crystal Ball?
Watch out: Chief executives have long had an uncanny knack for predicting how the economy will fare in the next year — and for 2020, their outlook is dark.
Budget Deficit Forecast to Top $1 Trillion in 2020
"Changes in fiscal policy must be made to address the budget situation because our debt is growing on an unsustainable path," the CBO says.
China GDP Growth Rate Slows to 6.1% in 2019
China's economy is "under pressure from weak consumer spending, rising unemployment and problems in the financial system."
Global Debt-to-GDP Hits Record 322% in Q3
The Institute of International Finance sees debt growth accelerating this year due to low interest rates and "loose financial conditions."