Corona-crisis: a Historic economic crash in America

The American economy is shrunk as a result of the Corona-crisis as fast as never before since the survey of the corresponding statistics in the year 1947. The g

Corona-crisis: a Historic economic crash in America

The American economy is shrunk as a result of the Corona-crisis as fast as never before since the survey of the corresponding statistics in the year 1947. The gross domestic product of the largest economy in the world decreased in the period from April to June, almost 10 percent compared to the previous quarter.

According to the in America the usual method of calculation to the year projected decline in GDP, this results to 32.9 percent – this is the official number that the us Department of Commerce said in a first estimate. Previously, the respondents experts said, in cutting an even sharper decline before. You went from an annualized GDP decrease of more than 34 percent.

"It will take a long time, until the American economy comes from the depths of the valley of the tears out. Prolonged and high infection numbers and mass unemployment make for considerable uncertainty," said Bastian Hepperle, economist, of the banking house lamp, and he added: "This is crippling the private consumption and investment."

High infection numbers

as a result of the Coronavirus pandemic, have also been closed in the United States, many shops and factories temporarily or had to restrict their production at least greatly. This particularly impacted the consumption in the country traditionally, for a large part of the economic activity.

The government of President Donald Trump has decided, as a result, aid in the trillion-the amount for both companies, as well as for Americans who lost their jobs. After the outbreak of the pandemic, tens of millions of Americans have lost in the shortest amount of time, your body.

Currently, Democrats and Republicans argue over another extensive stimulus package to support the economy. While many other countries were able to narrow down the numbers to a sharp "Lockdown" of their Infection, they remained in America, continued high or even increased further.

Updated Date: 30 July 2020, 10:19

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