U.S. Economy Fell 4.8% in First Quarter of 2020 Due to COVID-19, Says ABC
The U.S. economy contracted at an annualized 4.8% rate during the first quarter of 2020 as a result of the ongoing global pandemic, according to an ABC analysis of BEA data. The decline in GDP is largely a reflection of the final three weeks of March, which devastated the economy.
