Coronavirus: US economy shrinks at fastest rate since 2008

Uploaded by Jessica Villarreal on April 30, 2020 at 12:14 pm

The world’s biggest economy looks to be heading into a severe recession with large parts of the country closed for business.

The US economy shrank at an annual rate of 4.8% in the first quarter of the year as coronavirus lockdown measures took their toll.

It was the first quarterly decline in GDP for six years and the biggest since the financial crisis in 2008, according to official figures.

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