Growth weak as consumers remain on sidelines.
Report
May 26, 2020
US Economic Update – May 2020
April crash, tentative recovery in May.
Key highlights
- April partial indicators confirm that Q2 GDP is set for a massive fall and the unemployment rate is already at a record high.
- While activity likely bottomed in April as most US states are gradually ‘re-opening’ their economies, the recovery is likely to take a long period of time, with risks weighted to the downside.
Find out more in NAB’s US Economic Update – May 2020
