The Worst Ever was Better than Expected
07/30/2020
Quarterly GDP is both the most important and least timely of the economic indicators. The second quarter collapse was a given; the only question was…how bad would it be? As it turned out, it wasn’t quite as terrible as the forecasts had indicated, but the massive -32.9% plunge was still more than three times the size of the next biggest contraction on record dating back to 1947.
