US Economic Update – May 2020

April crash, tentative recovery in May.

By

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