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US GDP slumped 4.8% in the first quarter

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US GDP slumped 4.8% in the first quarter

US gross domestic product fell at a 4.8% annualized rate in the first quarter, according to Commerce Department figures released Wednesday. The report showed that the longest-ever economic expansion that started following the Great Recession has officially ended. Now, economists are watching to see how bad second quarter GDP may slump as the coronavirus pandemic continues in the US.Visit Business Insider's homepage for more stories.To get more news about <b>WikiFX</b>, you can visit wikifx official website.

  The longest-ever US economic expansion is officially over. US gross domestic product fell at a 4.8% annualized rate in the first quarter, according to Commerce Department figures released Wednesday. Economists expected that GDP would shrink by a 3.8% annualized rate in the first quarter, according to Bloomberg data. The slump from January through March reflects the sharp economic impact of country-wide shutdowns to curb the spread of Covid-19. In March, most of the US went into lockdown mode — states banned non-essential business, sent workers home, and told residents to practice social-distancing.“Today's first quarter numbers are just the deeply unappetizing appetizer,” wrote Ian Shepherdson, chief economist of Pantheon Macroeconomics, in a Wednesday note.

  The GDP contraction has ended the longest-ever economic expansion that took place in the US after the Great Recession of 2007-2009. During the record expansion, the unemployment rate fell to a 50-year low of 3.5%, and the US economy added jobs for 113 months in a row.
The manager of the best small-cap fund of the past 20 years explains why he's betting big on a consumer recovery — and shares his top 4 stock picks in the struggling sectorNow, it's likely that a coronavirus-induced recession started in the first quarter. A slew of economic indicators point to extreme fallout in the US economy.In just five weeks, 26 million Americans have filed for unemployment claims, effectively erasing more than a decade of job creation in just over a month. In addition, industrial production has fallen, retail sales have declined at a record pace, and housing sales have slumped.

  While some economists mark the beginning of a recession as two consecutive quarters of GDP contraction, official arbiters have a more comprehensive approach. The National Bureau of Economic Research says a recession is “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” Any official call will take some time, as the bureau's Business Cycle Dating Committee weighs whether a recession began in March, when much of the US was shut down amid the coronavirus pandemic, or if the economy started trailing off at the end of February. Going forward, economists will be watching to see how bad the situation becomes and weigh what shape a recovery might take. The worst may be yet to come — first quarter GDP could be revised even lower as more data is collected.In addition, second quarter GDP is expected to fall at an even sharper annualized rate. Economists expect major slumps, ranging from Bank of America's -30% estimate to JPMorgan's -40% forecast.

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Musikazblai Euskera, el portal más completo dedicado a la música vasca

Aquí encontrarás todo lo necesario para no perderte en el mundo de la euskal musika: letras de canciones en euskera (lengua vasca), grupos, bandas, artistas, solistas, cantantes y autores vascos, sus discos, traducciones a otros idiomas, acordes para guitarra, algunas canciones MP3, fotos, unos foros de discusión, y una comunidad de gente joven amante de la música vasca. Aunque la base de datos cuenta con varios miles de canciones vascas de todos las épocas y estilos (rock, pop, tradicional, punk, reggae, electrónica, heavy, clásica…), es posible que eches en falta algún grupo musical o canción. Puedes colaborar enviándolas tú mismo a través de las páginas de colaboración. Si te animas a sugerir nuevos grupos, bandas o solistas, recuerda que el único requisito es que algunas de sus canciones sean en lengua vasca. Más

El compromiso de Musikazblai Euskera es con el euskera y la música en euskera. En Internet hay decenas de sitios donde es posible encontrar información sobre los artistas que cantan en castellano o en inglés, pero encontrar una comunidad articulada en torno a la música de Euskal Herria y al euskera era difícil y por eso comenzamos este portal, que abarca sobre todo gente joven amante de la música de su tierra. La mayoría son vascohablantes, si bien un porcentaje significativo de las visitas son de fuera del País Vasco e incluso de fuera de Europa: vascos y vascas emigrados y otras personas interesadas en la lengua y la música del País Vasco. Como una parte de estas personas interesadas en la euskal musika no dominan el idioma existen también traducciones de muchas canciones al castellano, realizadas por los propios usuarios. Si nos visitas desde fuera y no conoces Euskadi, (también llamado País Vasco, Pays Basque, Euskal Herria o Euskalherria), se trata del pueblo vasco, situado a ambos lados de la frontera entre España y Francia en la parte occidental de los Pirineos, y cuyas principales ciudades son Bilbao, Vitoria (Gasteiz), San Sebastián (Donosti), Barakaldo, Getxo, Irún, Portugalete, Santurtzi, Basauri y Rentería. En Navarra, donde también se habla euskera, son Iruña (Pamplona), Tudela, Barañáin, Burlada (Burlata), Estella (Lizarra), Zizur, Tafalla y Atarrabia (Villaba).