Worst Economy in a Decade. What’s Next? ‘Worst in Our Lifetime.’

Worst Economy in a Decade. What’s Next? ‘Worst in Our Lifetime.’

The New York Times-Business·2020-04-29 12:44

The coronavirus pandemic officially snapped the United States’ economic growth streak in the first three months of the year. The question now is how deep the damage will get — and how long the country will take to recover.

U.S. gross domestic product, the broadest measure of goods and services output, fell at a 4.8 percent annual rate in the first quarter of the year, the Commerce Department said Wednesday. That is the first decline since 2014, and the worst quarterly contraction since 2008, when the country was in a deep recession.

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