Survey: Worst recession in US after 1946, Corona is the reason!
America is trying to recover from Corona. But the cases are constantly increasing. This crisis can hurt the US economy deeply. Its fears (Worst recession in US after 1946) have been expressed in a report.
The results of a survey conducted in this regard by the National Association for Business Economics (NABE) released on Monday. In which it is feared that due to the coronavirus epidemic, the gross domestic product in America will decrease by 5.9 percent in 2020.
Economists have feared that the US may face the worst recession in the last seven decades because of Corona. Not only this, but it is also feared that the coronavirus epidemic may return, which will bring a big crisis for the economy.
The survey said that this decline would be the highest since 1946 when America’s GDP decreased by 11.6 percent due to World War II.
In fact, a team of 48 experts of NABE has predicted that the US GDP will fall by 5 percent in the January-March quarter, while in the April-June quarter thereafter, this decline will be a record 33.5 percent.
However, experts say that the growth rate will be better in the second half of 2020 and it is expected to be 9.1 percent in the July-September quarter and 6.8 percent in the October-December quarter.
These economists estimate that in 2021, the growth rate of American will be 3.6 percent. However, constant steps are being taken by the Trump administration to revive the economy.