The US economy is sliding into what looks like a severe recession due to coronavirus restrictions. Photo: AFP

US economy shrank at 4.8 per cent annual rate last quarter, the worst result since global financial crisis

  • Forecasters say the drop in the January-March quarter will be only a precursor of a far grimmer GDP report to come on the current April-June period
  • President Donald Trump told reporters this week that he expects a ‘big rise’ in GDP in the third quarter, followed by an ‘incredible fourth quarter’
Topic |   US Politics
The US economy is sliding into what looks like a severe recession due to coronavirus restrictions. Photo: AFP
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