Jakarta, CNBC Indonesia – The economy of the United States (US) dropped to negative 32.9% in the period from April to June 2020 or in the Second Quarter-2020. This economic downturn was the worst since 1958.
Thus a report from the US Department of Commerce which was just released on Thursday (7/30/2020) was launched directly from CNBC International.
A sharp contraction occurred in consumption, exports, to investment and government spending. Seen, spending that slipped in quite is health care or items such as clothing and footwear.
While the deepest decline in investment was due to the loyonya automotive sector.
Here are the details of US GDP:
PDB
Quarter I-2020 Vs Second Quarter-2020: -5% vs -32.9% (q to q)
Consumption
Quarter I vs. Quarter II-2020: -6.8% vs -34.6%
This contraction underscores excessive concern in the Covid-19 pandemic. This 32.9% negative contraction is the worst fall ever, according to the Bureau of Economic Analysis data. Before the Covid-19 pandemic, the worst US GDP was recorded in the first quarter of 1958, when it fell by -10.0% on an annual basis.
Meanwhile, if you draw the line of GDP after World War II in 1939-1945, the contraction in the second quarter of 2020 is the worst.
In the first quarter of 2020 the US also experienced a contraction of 5.0%.
(dru)
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