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US economy may shrink 38% in Q2
Finance
- 20 May, 2020
- 07:28
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In comparison with the first quarter of 2020, the US economy may shrink 37.7% in the second quarter, Report informs, citing Congressional Budget Office (CBO).
At the same time, the US economy will grow 21.5% and 10.4%, respectively, in the third and fourth quarters. In general, economic growth is expected to be 5.6% in 2020, 4.2% in 2021.
The unemployment rate is predicted at 11.5% this year, at 9.3% - in 2021.
The federal budget deficit is expected to increase by $2.1 trillion in 2020 and by $0.6 trillion in 2021.
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