How the U.S. Economy Just Lost 33% of its Value
- Author
- Economics Explained
- Published
- Tue 08 Sep 2020
- Episode Link
- None
On the 30th of July 2020, the U.S. Bureau of Economic Analysis released its 2nd quarter Gross Domestic Product report. The report noted a 32.9% contraction in annual GDP growth in the months of April, May, and June.
For reference, the 2008 subprime mortgage crisis of 2008 saw an 8% drop in annualized GDP figures at its peak.
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