Economics
Economists See U.S. Facing Worst-Ever Quarterly Contraction
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Economists say the U.S. is entering a sharp recession, with some projecting gross domestic product is headed for its worst drop in quarterly records back to 1947.
Containing the outbreak has forced the world’s largest economy to a sudden stop, shuttering businesses that are in turn cutting millions of jobs. GDP estimates range widely, but most economists expect a severe second-quarter drop will be followed by a rebound in the second half of the year as the pandemic abates.