FOREX TradingCharts.com

Financial News: U.S. GDP Tumbles 4.8% In First Quarter

U.S. GDP Tumbles 4.8% In First Quarter

04/29/2020 - 09:34:00 (RTTNews)

(RTTNews) - U.S. economic activity saw a substantial contraction in the first quarter of 2020, according to a report released by the Commerce Department on Wednesday.

The report said U.S. real gross domestic product decreased at an annual rate of 4.8 percent in the first quarter following the 2.1 percent jump in the fourth quarter of 2019.

The decrease in real GDP in the first quarter reflected negative contributions from consumer spending, non-residential fixed investment, exports, and private inventory investment.

Meanwhile, positive contributions from residential fixed investment, federal government spending, and state and local government spending helped limit the downside.

Consumer spending plunged by 7.6 percent in the first quarter amid a steep drop in spending on services, led by health care, and goods, led by motor vehicles and parts.

The decrease in non-residential fixed investment primarily reflected a decrease in equipment, led by transportation equipment, while the decrease in exports primarily reflected a decrease in services, led by travel.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Korea Rate Decision On Tap For Thursday (05 hr(s), 23 min(s), 18 sec(s) ago)
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announ ...Full Story»

Slovenia Retail Sales Fall At Slower Pace (16 hr(s), 04 min(s), 18 sec(s) ago)
(RTTNews) - Slovenia's retail sales declined at a slower pace in April, data from the Statisti ...Full Story»

Malta Producer Prices Rise In April (16 hr(s), 03 min(s), 18 sec(s) ago)
(RTTNews) - Malta's producer prices rose in April after falling in the previous month, data fr ...Full Story»

Sweden Producer Prices Decline Slows In April (16 hr(s), 42 min(s), 18 sec(s) ago)
(RTTNews) - Sweden's producer price declined at a softer pace in April, figures from Statistic ...Full Story»

Lithuania Retail Sales Decline In April (16 hr(s), 43 min(s), 18 sec(s) ago)
(RTTNews) - Lithuania's retail sales declined at a faster rate in April amid government measur ...Full Story»

Hungary Jobless Rate Rises In April (16 hr(s), 43 min(s), 18 sec(s) ago)
(RTTNews) - Hungary's jobless rate rose during the February to April period, data from the Hun ...Full Story»

Eurozone Likely To Contract 8-12% In 2020, ECB Chief Says (17 hr(s), 18 min(s), 18 sec(s) ago)
(RTTNews) - European Central Bank President Christine Lagarde said the euro area economy is likely ...Full Story»

Downturn In Austria Manufacturing Sector Slows In May (18 hr(s), 36 min(s), 18 sec(s) ago)
(RTTNews) - The downturn in Austria's manufacturing sector caused by the coronavirus, or Covid ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Korea Rate Decision On Tap For Thursday

05/27/2020 - 18:00 PM (RTTNews)
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announ ...Full Story>>

Malta Producer Prices Rise In April

05/27/2020 - 07:20 AM (RTTNews)
(RTTNews) - Malta's producer prices rose in April after falling in the previous month, data fr ...Full Story>>

Slovenia Retail Sales Fall At Slower Pace

05/27/2020 - 07:19 AM (RTTNews)
(RTTNews) - Slovenia's retail sales declined at a slower pace in April, data from the Statisti ...Full Story>>

Sweden Producer Prices Decline Slows In April

05/27/2020 - 06:41 AM (RTTNews)
(RTTNews) - Sweden's producer price declined at a softer pace in April, figures from Statistic ...Full Story>>

Hungary Jobless Rate Rises In April

05/27/2020 - 06:40 AM (RTTNews)
(RTTNews) - Hungary's jobless rate rose during the February to April period, data from the Hun ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.