US Heading Towards Recession

Forum 3 years ago

US Heading Towards Recession

In a report, it been stated that the United States economy had greatly derailed and melt down in many years in the first quarter of the year, due to the lockdown in the country. It was gathered that the US economy declined at annual rate of 4.8%, according to he official statement.

However, over 26 million US citizens have currently people filed for unemployment, as the country experience an heavy declines in business. Although Forecasters hope the growth in economy to contract 30% in few months time.

“This is off the rails, unprecedented,” according to Mark Zandi, chief economist at Moody’s Analytics. “The economy has just been flattened.”

“We will experience the worst recession in the history of the federal republic” Economy Minister Peter Altmaier added.