U.S. GDP tonight announcement Outlook for record decline Corona Virus impact July 30 8:25
The U.S. announced on Friday evening Japan time, and the growth rate of GDP-gross domestic product from April to June is expected to be a record decline due to the spread of the new Coronavirus infection. Powell, chairman of the Federal Reserve, the central bank, expressed strong concern that prolonged economic downturn could further widen the economic gap.
The preliminary figures for U.S. GDP from April to June will be released at 9:30 p.m. Japan time on June 30.
In the past three months, economic activity has almost stopped due to the spread of the new coronavirus infection, and the growth rate of GDP is expected to be around 35 percent on an annualized basis compared to the previous three months, which is expected to be the worst since 1947, when quarterly statistics began.
“This recession is not equally on all Americans,” Fed Chairman Powell said at a news conference Wednesday. It weighs heavily on people who work in relatively low-wage industries such as restaurants and hotels.”
The spread of the infection has not stopped in the United States, and the pace of economic recovery since this month appears to have slowed, and Mr. Powell’s remarks expressed concern that prolonged economic downturn could further widen the economic gap that has become a problem in the United States.
At the press conference, Mr. Powell said that support for the economy is still needed in terms of both financial and fiscal aspects, but the path of a steady recovery cannot be foreseen.