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Since mid-March, there has been a sudden stop in the American economy. From March 21 to last week, 26 million new claims for unemployment benefits were filed from unemployed Americans, perhaps 30 million when last week’s figures were released.
Although the crown crisis hit the economy until the end of the quarter, a consensus was reached in advance that GDP figures would end at minus four percent. Compared to 2.1% in the previous quarter.
But investors on the US stock exchanges. USA They care little about the macro figures for the first quarter. All major stock indices tend to open well, more than a percentage, more than half an hour before stock markets open. There is new hope for a crown vaccine that will lift spirits on Wall Street, and it is again the biotech company that Gilead Sciences investors are hoping for. Earlier this month, positive messages from Gilead led to slowdown in markets around the world, before falling again the following week, when testing for a new corona vaccine was still failing. On Wednesday, Gilead reports new tests, which the company itself describes as good.
The second trimester will be sacrificed
Consumer confidence in the United States was also hit hard. American consumers spent 7.6 percent less money in the first quarter, compared to 1.8 percent in the previous quarter.
For the current second quarter, which is completely devastated by the crown crisis, most economies expect gross domestic product to end in the 1930s, that is, less. Economists at investment bank Morgan Stanley are among the darker, and according to Marketwatch, GDP could end at minus 38 percent.
The President of the United States, Donald Trump, is now pressing to reopen the economy as soon as possible. But it faces strong local opposition from governors and mayors who think it is too early, given the high rates of infection and death in many parts of the United States.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which links directly to our pages. Copying or any other use of all or part of the content may only be made with written permission or as permitted by law. For more terms see here.
