Research Brief: Gross Domestic Product (GDP) – July 2020
Economy suffers most in postwar period. Gross domestic product (GDP) declined by 32.9 percent in the second quarter as businesses were closed or forced into limited operation to prevent overwhelming the nation’s healthcare system. The decline was in line with expectations and sets the stage for a recovery featuring the largest
ever gain in GDP in the third quarter of this year. Although the reduction in the broadest measure of the economy highlights the depth of the recession, the country may already be moving into an expansionary period. GDP and other economic indicators point to an increase in the probability of a check mark-shaped recovery