The U.S. economy contracted 4.8% in the first quarter amid state shutdowns, millions of layoffs

[r2d2]

 

The U.S. economy, largely shut down by the coronavirus pandemic, turned in its worst performance in more than a decade early this year but the dismal showing reflects just a sliver of the damage to come.The nation’s gross domestic product, the value of all goods and services produced in the U.S., contracted at a seasonally adjusted annual rate of 4.8% in the January-March period as both consumer and business spending fell sharply, the Commerce Department said Wednesday. It marked the first drop in output since early 2014 and the steepest since late 2008 during the depths of the Great Recession.

[ennnna chata]

It’s a good news ... market on recovery mode stocks will jump today

[Gentle_Boy]

Lets see

[kathanayaka]

its good only right. idiots who are not worth will loose jobs and only the talented will be in jobs.

those idiots will know their value now. 

[CH_Desi]

3 hours ago, kathanayaka said:

its good only right. idiots who are not worth will loose jobs and only the talented will be in jobs.

those idiots will know their value now. 

Kadu, even talent unna valla jobs kuda povachchu if their companies are badly hit.