Search
 
Analysis

2 Economic Headwinds Emerged In July

Due to the coronavirus pandemic, the U.S. economy had its worst performance in the second quarter in its history -- but it was in line with experts' predictions.

The U.S. economy just experienced its worst economic quarter in reported history, but experts say the upside is that it performed about as badly as was predicted by JLL.

Real GDP declined 32.9% in the second quarter of 2020 on an annualized basis, which is the largest drop since the quarterly GDP time series began in 1947. Additionally, GDP in the second quarter contracted 10.6% peak-to-trough, the third-largest contraction since the Great Depression and the worst performance since the demobilization effort at the end of World War II.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Samantha Stokes

Samantha Stokes

Samantha Stokes, based in New York, is a staff reporter at American Lawyer covering the business of law. You can reach her at [email protected] or on Twitter: @stokessamanthaj.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.