The United States recession started in Q1 2020, January to March! The United States GDP growth for Q1 2020 was -4.8.
The negative GDP growth Q1 2020 was worse than the start of the last Great Recession from 2007 to 2009.
The most popular definition of a recession is 2 consecutive quarters of negative gross domestic growth (GDP) but does not always fit every recession.
The last recession by NBER started in December 2007 to June 2009.
❌2007 Q4 to 2009 Q2.
⭕️-2.3 growth in 2008 Q1
⭕️-13.6 growth from 2008 Q1 to 2009 Q2
↔️The recession lasted 1 year and a half
🖕🏽The global recession was started by the United States of America.
Covid-19 recession started at the end of January 2020.
❌2020 Q1 – TBD (to be determined)
⭕️-4.8 growth in 2020 Q1
⭕️Many forecasts a GDP growth of -10 or worse for 2020 Q2.
↔️The recession will be at least 9 months or more!
🖕🏽The global recession was started by China.
Covid-19 recession is worse than the last recession! 😟
What do you think❓How long will the COVID-19 recession last and will it be worse than the last recession❓
Source: Trading Economics Graph with 2007-2010 quarterly GDP growths, data by U.S. Bureau of Economic Analysis.