Coronavirus: US economy shrinks at fastest rate since 2008 – BBC News
The US economy suffered its most severe contraction in more than a decade in the first quarter of the year, as the country introduced lockdowns to slow the spread of coronavirus.
The world's largest economy sank at an annual rate of 4.8%, according to official figures released on Wednesday.
It marked the first contraction since 2014, ending a record expansion.
But the figures just hint at the full crisis, since many of the restrictions were not put in place until March.
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The US economy suffered its most severe contraction in more than a decade in the first quarter of the year, as the country introduced lockdowns to slow the spread of coronavirus.
The world’s largest economy sank at an annual rate of 4.8%, according to official figures released on Wednesday.
It marked the first contraction since 2014, ending a record expansion.
But the figures just hint at the full crisis, since many of the restrictions were not put in place until March.
#BBCOS #BBCOutsideSource
Please subscribe HERE http://bit.ly/1rbfUog
