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2020-07-31 -Signs, Portents, and the Weather-

US economy collapsed 32.9 percent Q2 amid pandemic: government

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Posted by Fred 2020-07-31 00:00|| || Front Page|| [11129 views ] Top

#1 32.9% decline annualized is 9.5%/quarter. i.e the US declined 9.5% last quarter.

The 10% German economic decline is implied to be over a quarter's time.
German economy suffers sharpest decline on record plunging 10% since April due to coronavirus hammering production
German exports reportedly plummeted by 30 per cent year-on-year at the height of worldwide lockdowns in April and May. Car manufacturing alone fell by a staggering 40 per cent year-on-year over the first six months of 2020.

"It's clear that it was a really horrible quarter for Germany," DW's Chelsea Dulaney said. "We saw declines basically across the entire country," she added.

So does this imply that the Chinese corona virus epidemic has reduced advanced countries' economies GDP by about 12% in the first 2 quarters (2+10%)?

Posted by Ebberegum Croling1752 2020-07-31 00:21|| 2020-07-31 00:21|| Front Page Top

#2 US #economy collapsed 32.9 percent Q2 amid pandemic

German #economy plunged 10% during 2nd quarter amid pandemic

So, if you have a lockdown - like Germany - your economy collapses less?

Posted by g(r)omgoru 2020-07-31 01:39|| 2020-07-31 01:39|| Front Page Top

#3 The US number is annualized. US GDP was down 9.5% in second quarter.

Posted by Ebberegum Croling1752 2020-07-31 01:45|| 2020-07-31 01:45|| Front Page Top

#4 ^Was just kidding Ebberegum - IMO, all economic numbers are pulled from arse.

Posted by g(r)omgoru 2020-07-31 01:54|| 2020-07-31 01:54|| Front Page Top

#5 Just like Government COVID stats!

Posted by Bright Pebbles 2020-07-31 02:21|| 2020-07-31 02:21|| Front Page Top

#6 The Dems have no intention of letting a good crisis go to waste.

A totally corrupt and crime ridden Chicago controls nearly all aspects of the economy and life in Illinois. A totally corrupt and crime ridden Baltimore, NYC, Los Angeles, Seattle, and Atlanta can potentially control all aspects of the economy and life in America.

Posted by Besoeker 2020-07-31 04:55|| 2020-07-31 04:55|| Front Page Top

#7 The Left’s answer to most problems is to destroy capitalism. If the economy is down this much there should be a corresponding reduction in tax payer funded programs and layoffs but we know that is not going to happen.

Posted by Airandee 2020-07-31 08:43|| 2020-07-31 08:43|| Front Page Top

#8 Dallas funding shortfalls are starting to make the local news.

Posted by Bobby 2020-07-31 15:44|| 2020-07-31 15:44|| Front Page Top

#9 Damaged trade leads to damaged economy is as old as planting on The Nile, and is as obvious as a nose on a baby's face.

Posted by swksvolFF 2020-07-31 19:28|| 2020-07-31 19:28|| Front Page Top

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