Coronavirus sends U.S. consumer spending into record fall in March | ||
Thursday, 30 April 2020 ()
U.S. consumer spending plunged by the most on record in March on the back of stay-at-home orders across much of the country to mitigate the spread of the novel coronavirus. |
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Credit: Wochit - Published
Coronavirus Tackles U.S. Economy In First Quarter 00:36According to Reuters, coronavirus tackled the U.S. economy, in the first quarter of the year, "at its sharpest pace since the Great Recession." The Commerce Department explained that the gross domestic product tumbled at a 4.8% annualized rate, after expanding at a 2.1% rate in late 2019. The... |