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In: Economics

describe the current economic sutition of america as per economic rate, Money stakes, Inflation rate?

describe the current economic sutition of america as per economic rate, Money stakes, Inflation rate?

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COVID-19 pandemic has shaken the economy. In U.S. actions taken to combat coronavirus has caused a sharp contraction in the activities in U.S. economy in March 2020, resulting in a sharp fall in real GDP of approximately 4.8 percent at an annual rate in the first quarter of this year. Money stakes clinched their worst in the year's first quarter because of the situations involving huge numbers of tasks being cancelled and also increasingly avoidance of the hotels, restaurants, travel, and with the rapid descent of stock market.

The rate of inflation in US eased from 0.3% in April to 0.1% in May of 2020. Since September of 2015 it is lowest rate of inflation mainly because of the 33.8% plunge in gasoline cost. The apparel prices declined down 7.9% and transportation services were reduced by 8.7% because due to coronavirus lockdown restrictions the most of the stores remained closed and people were forced to stay at home

Rahul Sunny answered 8 months ago
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