GDP jumped 33%, but how about that output gap?

Oct 29, 2020
The growth is good, but it'll be a while before the U.S. economy is back to where it was before COVID-19 happened.
Cargo containers are stacked on a ship docked at the Port of Oakland in California. Economic output in the United States hasn't caught up yet to pre-pandemic levels.
Justin Sullivan/Getty Images

U.S. economy rebounded to grow at record 33% annual rate last quarter

Oct 29, 2020
Yet the recovery from the deepest recession since the Great Depression of the 1930s remains far from complete.
Valerie Macon/AFP via Getty Images

Keep this in mind when you read Thursday’s GDP report

Oct 28, 2020
The number is going to be “annualized.”
The third-quarter GDP report is expected to show record-breaking growth, but that's not the whole story.
Photo by Chaloner Woods/Getty Images

With fewer people on health insurance, health care jobs could be in jeopardy, report says

The employer-provided health insurance losses projected to come could cost the U.S. economy another 1.5 million to 2.5 million jobs.
In the middle of the COVID-19 pandemic, reduced revenue to health care providers made up 29% of the historic second-quarter GDP decline.
Chip Somodevilla/Getty Images

U.S. economy shrank at record-breaking 33% rate last quarter

Jul 30, 2020
It's by far the worst quarterly plunge ever.
The Commerce Department’s estimate of the second-quarter decline in GDP marked the sharpest such drop on records dating to 1947.
Valerie Macon/AFP via Getty Images

The IMF predicts the global economy will shrink by 5% this year

Jun 24, 2020
That means fewer jobs and more debt. And the U.S. may be in for even worse.
A man passes graffiti about the coronavirus in Beirut, Lebanon. The IMF is predicting a world-wide downturn of 5% as people spend less money while stuck at home due to COVID-19.
Patrick Baz/AFP via Getty Images

You’ve got questions. We help you answer them.

Support nonprofit, independent journalism that makes you smarter.

Why annualizing can make GDP forecasts look scarier than they are

Jun 11, 2020
If one quarter differs significantly from another, it's hard to paint a picture of the entire year.
Peter Macdiarmid/Getty Images

Who gets to decide if we are in a recession?

Jun 9, 2020
We have to take the word of economists at the National Bureau of Economic Research, who have been making that call for a hundred years.
A man wears a face mask as he check his phone in Times Square on March 22, 2020 in New York City. - Coronavirus deaths soared across the United States and Europe on despite heightened restrictions as hospitals scrambled to find ventilators. (Photo by Kena Betancur / AFP) (Photo by KENA BETANCUR/AFP via Getty Images)
Kena Betancur/AFP via Getty Images

Are we almost through the worst of the COVID-19 economic decline?

The National Association for Business Economics predicts our economy could be growing once again by the third quarter.
Overhanging any forecast is the risk that a second wave of the coronavirus could threaten the economy once again.
Gregg Newton/AFP via Getty Images