Daily Archives: Jul 31, 2020 at 07:54 am EDT

After A Record Drop In US GDP For Q2, What’s Next?

The epic decline in US economic output in the second quarter was the deepest dive in GDP on record that surprised exactly no one. Economists and macro models have for months been projecting a massive decline as the nation’s economy shut down to combat Covid-19. Government figures released yesterday confirmed the worst fears, which clears the way to focus on the second half of the year.

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Macro Briefing | 31 July 2020

Trump suggests delaying US election; GOP and Dems reject the idea: Reuters
No deal in sight in Congress for virus relief bill: Bloomberg
Hurricane Isaias threatens US east coast in the days ahead: NHC
Big Tech reports strong growth in earnings and revenue: WSJ
Coronavirus has strengthened power and reach of Big Tech: CNN
Eurozone GDP fell dramatically in Q2, posting biggest decline on record: DW
China’s economic recovery continues in July via PMI survey data: SCMP
Weekly jobless claims continue to rise sharply–up 1.434mm last week: CNBC
US GDP crashed in Q2, dropping 32.9% at seasonally adjusted annual rate: MW