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Here are some key numbers:U.S. gross domestic product turned negative for the first time since 2014 in the first three months of the year as the coronavirus pandemic broadened out across the globe and the country in March, dragging output to a near standstill.
- 1Q GDP annualized, QoQ: -4.8% vs. -4.0% expected, +2.1% in 4Q 2019
- 1Q Personal consumption: -7.6% vs. -3.6% expected, +1.8% in 4Q 2019
- 1Q Core PCE QoQ: +1.8% vs. +1.7% expected, +1.3% in 4Q 2019
First quarter 2020 GDP: U.S. economy contracted for the first time in six years
The Bureau of Economic Analysis released the advance print of U.S. first-quarter gross domestic product Wednesday morning.
finance.yahoo.com