Daily Archives: May 15, 2020 at 07:10 am EDT

Massive Loss Expected For US Q2 GDP

The US economy is on track to suffer a heavy blow from the coronavirus crisis in the second quarter, according to several GDP nowcasts compiled by CapitalSpectator.com. A hint of the macro loss was previewed in the Q1 data, which reflected 4.8% decline. But new estimates for Q2 point to a far bigger contraction unfolding in this quarter.

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Macro Briefing | 15 May 2020

House to vote on $3 trillion coronavirus aid package: CNN
World Trade Organization chief quits: NY Times
Slow recovery for China’s economy is a warning to world: Bloomberg
No visibility on when US will reopen to international travelers: Reuters
German economy fell in Q1–biggest decline since financial crisis: CNBC
Record drop for US retail sales expected in today’s April report: CNBC
US jobless claims surged 2.6 million last week due to coronavirus shutdowns: MW
Crude oil, after dramatic fall, recovers to highest level since April 3: