q2 gdp release date
h��V�O�F�W�GP�������^�T�V�IL��46p���f�pihO\����xg絳�̮�q�gB8����sΔT��i�A%���*f=Q��<7���,8 �0i�&MX�$"8�:|&����L*oB1�-�h&�'�dp��}��G;�i5@��7����||���Ť�>?����d̀U������YtXO�Ri�濖�kLL/BBu5��`����]�sZ��j��HӁ��O�*�xx�n�YE~A���]��\�_w$qz����;�|~��&]�,h�sW��y3�.������f��.�9������y5� More recently, figures have shown a pickup in home sales as Americans take advantage of record-low mortgage rates.The pandemic’s toll on household spending for services was breath-taking: A 43.5% annualized slide during the quarter, subtracting nearly 23 percentage points from GDP. 816 0 obj
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And the longer the pandemic lasts without a vaccine, the longer economic output will remain below pre-crisis levels, leaving permanent scars on many businesses and workers.“We already know that activity rebounded strongly in May and June, setting the stage for a strong rise in GDP in the third quarter,” Andrew Hunter, senior U.S. economist at Capital Economics, said in a note. Note: This is the advance release.
As shutdowns gradually lifted and states began to reopen, economic activity stirred back to life in May and June -- just not to the levels seen before the pandemic.Millions of people headed back to work, and Americans ventured out of their homes to spend again at newly reopened stores and restaurants. That’s the steepest annualized decline in quarterly records dating back to 1947 and compares with analyst estimates for a 34.5% contraction. %PDF-1.7
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Support from Congress has buoyed the economy in recent months, and further action will be crucial in determining the path of the recovery.This is the first estimate of three for the second-quarter figures, and the figure will likely be revised over the next two months as the Bureau of Economic Analysis receives further data. Lawmakers are currently debating another stimulus package to support businesses and the unemployed, but the timing of the bill is unclear. “Nevertheless, with the more recent resurgence in virus cases starting to weigh on the economy in July, a continued ‘V-shaped’ recovery is unlikely.”A separate report Thursday showed the number of Americans filing for U.S. stocks fell the most in a week after the data releases, and yields on 10-year Treasuries declined.While the economic restart has helped put 7.5 million Americans back to work in May and June combined, payrolls are down more than 14.5 million from their pre-pandemic peak. Personal spending slumped by the most in records to 1940s endstream
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Business investment in structures, equipment and intellectual property slumped an annualized 27% pace, the steepest slide since 1952, while residential investment dropped at a 38.7% rate, the most since 1980. T���dȑ�2C����q1��V���S�BL��8�Ջ�_�OU�Xԋ*=`��+�1Ng8G��3�g2l�'�ۮ[�o����1"�ۺ��|Zݔ��.���I.�wyWMn���VN����Rd�,p�R�3��v��e����ꮜ�#�3���>��/��EWv�K9������ ɝ�)����.B��m�z�M��j��B����8����쪞v��H���Ӫ���K�ۓ���Y��Mx?8h�{�JkLH.4bZ ����o ��$
Business investment in structures, equipment and intellectual property slumped an … Personal spending, which makes up about two-thirds of GDP, slumped an annualized 34.6%, also the most on record.Read more: Bloomberg’s TOPLive blog on Thursday’s economic dataThe figures lay bare the extent of the economic devastation that resulted from the government-ordered shutdowns and stay-at-home orders designed to slow the spread of the novel coronavirus that abruptly brought a halt to the longest-running expansion.
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