The U.S. suffered the biggest economic decline in the second quarter since the government began keeping track after World War Two. How much? Try 30% — or more.
Economists polled by MarketWatch estimate gross domestic product — the official scorecard for the U.S. economy — contracted by a record 34.6% annual pace from the start of April to the end of June.
Before the coronavirus pandemic, the largest drop in GDP on record was 10% in 1958. The government’s quarterly GDP figures go back to 1947.
The steepest quarterly drop during the 2007-2009 Great Recession was 8.4%.
Here is what to watch in the second-quarter GDP report when published