the US Economy in the first quarter of 2020 decreased by 5% compared to the same period last year, according to Thursday’s final, the Ministry of Commerce of the United States. And the expected deterioration of the situation.
the Fall was the steepest since the fourth quarter of 2008 preceding the global crisis that began in the United States. Consumer spending, which fill two-thirds of the US GDP for the quarter fell by 6.8%. The country is immersed in a situation more similar to the Great depression 30-ies of the last century, when millions of US citizens are losing their jobs, and line up for free food.
the US leads the world in the extent of destruction by pandemic COVID-19 – and the number of deaths (121 thousand deaths), and the number of infected people (more than 2.3 million cases). Recent data disappointing in the United States recorded a record number of cases per day: more than 36 thousand on the environment.
This can lead to repeated restrictions of mobility of the population and a stronger economy. The governors of the three States in the country have imposed new quarantine restrictions because of the new wave of the spread of coronavirus in the South and Western United States.
Before the pandemic, the US economy has set a record of duration of growth in its history – not less than 2% per year for 11 consecutive years. In 2019, US GDP grew by 2.3%.
Earlier, the financier George Soros has stated many times about the coming decline of the US and the EU, and President Donald trump called fraud.
In April 2020, U.S. unemployment reached a record 14.7% in may, fell to 13.3%. In April the number of jobs decreased by 20,687 million. The congressional budget office believes that the number of jobs in the U.S. will decline in the second quarter to 26 million, and the unemployment rate will rise to 15.1%. In the third quarter, the unemployment rate will reach 15.8 percent. U.S. GDP this year will decrease by 6.5%, and debt to update the record — more than $26 trillion.
the international monetary Fund (IMF) worsened the recovery prospects of countries. The Fund forecasts a fall in world GDP of 4.9 per cent in 2020, and in April was expected to decline only 3 percent, follows from a new forecast of the Fund.
This prediction has a high degree of uncertainty, the IMF said. The situation with the pandemic remains unclear — the unknown timing of its completion and the probability of growth of new diseases.
the Expected reduction of production in all countries except China. The world’s largest economy — US GDP – will decrease by 8 percent for the year. China’s GDP, the second largest economy in the world, will grow 1 percent.
the Eurozone Economy will shrink by 10.2 percent by the end of 2020. The largest EU economy – Germany’s GDP declined by 7.8 percent. The other large EU countries lose nearly 13 percent of GDP.
Russia’s GDP will decline by 6.6 percent, and in April-expected 5.5 percent for the year. In 2021, the IMF expects global GDP growth of 5.1 per cent, while Russia’s GDP – 4.1 percent.