The German economy suffered a record-breaking economic contraction in the second quarter as measures intended to stymie the coronavirus pandemic shuttered businesses and required consumers to stay home. The economy shrank at an annualized rate of 34.7 percent in the second quarter, worse than the stunning 32.9 percent decline in the U.S. On a nonannualized…
The U.S. economy shrank in the second quarter by the fastest rate since the government began keeping track of gross domestic product after World War II, as lockdowns aimed at curbing the coronavirus pandemic decimated economic activity and anti-police riots tore through many American cities. Gross domestic product, or the value of all goods and…
Key stimulus measures will expire this month. At least $1 trillion in additional stimulus is needed to support the U.S. economy. Local and state governments need more help. The pandemic shook the U.S economy, as millions of Americans lost their jobs. Businesses across the country have closed as part of a planned shutdown. In March,…
The stock market is starting to indicate that investors are prepping for a second spike in virus cases. Hiring data also show employers may be hitting pause on restaffing. The U.S. economy’s speedy recovery is at risk if another pandemic surge causes renewed lockdowns. It has been three months since the stock market crashed and…
The economy is bouncing back aggressively after the COVID crash. Jobs and retail sales are flying back on a trajectory to pre-crisis levels. Meanwhile, the stock market has surged past pre-crisis levels, at least in tech stocks. There are many signs of a V-shaped recovery for the economy. That’s a recovery where growth goes down,…
Despite the current economic downturn, we shouldn’t expect the Xbox Series X to drop in price. Xbox head Phil Spencer says he’s not concerned about 2020 console sales. He hints at other ways to retain the player base. Less than six months out from the supposed release date of the Xbox Series X and PlayStation…
Unemployment data this week is anything but promising, suggesting a V-shaped economic recovery is a pipe dream. Continuing jobless claims show people aren’t being rehired. Salary cuts across the board mean even those who have a job have less to spend. U.S. jobless claims fell for a ninth straight week on Thursday, but cheers about…
Tuesday on his nationally syndicated radio show, conservative talker Rush Limbaugh said Democrat Party lawmakers will attempt to squash plans to reopen the economy while the Chinese coronavirus pandemic subsides as part of an effort to sabotage President Donald Trump’s prospects of winning re-election in November. A partial transcript is as follows: RUSH LIMBAUGH: I’ll tell you…
In the first three months of 2020, the British economy contracted at the fastest rate since the 2008 financial collapse, despite coronavirus lockdown measures only being implemented in the final week of March. The first quarter of the year saw a 2 per cent fall in GDP in the UK, the worst fall since the…
The U.S. economy shrank at a 4.8 percent pace in the first three months of 2020, the worst plunge since 2008. This was the first negative reading for gross domestic product, the broadest measure of goods and services produced by the economy, since 2014. Economists had expected a contraction of 3.7 percent. The report indicates…
