Financial News
Author: Zhai Ziqian
2020-07-30 20:40
Last update date: 2020-07-30 20:42The United States announced its second-quarter GDP, which was 32.9% year-on-year, better than the expected 34.1%, and the worst data since the record in 1947. The GDP in the first quarter fell by 5% year-on-year, which was already the worst quarter since 2009.
In addition, the number of new applications for unemployment benefits this week was 1.434 million, which was better than expected, a slight increase from 1.416 million last week; the number of people who continued to apply for unemployment benefits was 17.018 million.
Former U.S. Treasury Secretary Larry Summers has warned earlier that he has never seen such an uncertain economic recovery. He believes that if Congress fails to take strong and rapid actions to continue to stimulate the economy to withstand the impact of the epidemic, the United States will fall into an economic crisis.
Federal Reserve Chairman Jerome Powell also pointed out that the number of confirmed cases of new coronary pneumonia in China has risen sharply, and the economic development path is extremely uncertain.
The U.S. Congressional Budget Office cuts GDP expected to shrink by 35.2% in the second quarter
Goldman Sachs cuts U.S. annual GDP forecast expected to shrink 4.6%
U.S. first quarter GDP recedes 4.8%, worse than market expectations
U.S. economic GDP
