Year now the Economic Growth was a sharp rebound after the worlds 2nd largest economy contract by 6. 8 percent year over year for the 1st quarter of this year now china was the 1st nation worldwide to start lock downs and stay at home orders in january but most restrictions have since been eased more positive data came as industrial output jumped 4. 8 percent year over year for the month of june better than initial estimates from economists now some experts see these data points as a sign of an economic recovery for china however retail sales fell by 1. 8 percent for the month of june worse than analysts expectations but better than the loss of 2. 8 percent in may now meanwhile here in the United States the u. S. Commerce department announce retail sales for the Worlds Largest economy grew by 7. 5 percent in june after a massive jump of 18. 2 percent in may now this of course comes as restrictions have softened in certain areas of the country despite recent spikes in coronavirus. Cases
That brings you up tonight more from us in a bad cough and. This is boom bust the one business show you cant afford to miss there montevideo going to washington coming up the Worlds Largest economy post its worst order on record well thats what this does to the hopes of that recovery in the u. S. And around the globe on the trouble coming as the maker of production claims will have to be slashed after a 65 percent drop in revenue we have a lot to get to to lets get started. On thursday the u. S. Commerce department announced that the United States economy g. D. P. Plunged 32. 9 percent on an annual basis in the april through june quarter this is its worst 2nd quarter period on record for the previous worst quarter contraction with a 10 percent drop during the Eisenhower Administration in 1958 but these records dont they back to the Great Depression wall hopes one day old on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it
John, to me the silence of this friday is the unemployment checks that will go away and the silence from washington. Jonathan i hope they are not looking at the equity market this morning. I hope they are focused on the highfrequency data and jobless claims. The recovery that we have been doing a victory lap on over the last couple of months. There will not be one this time around. Jobless claims are higher. Recovery is stalling. The economy needs more assistance. And congress is going for a long weekend. Tom so many things this morning and we will have a lot of different conversations to get you ready for the weekend. Lisa abramowicz, we all know in equities and commodities and currency, the bond market talks. It is speaking with a vengeance this morning. Lisa you are earning nothing on safe bonds. That is what this is telling you. Inflation will not take off. We are seeing record low yields. Almost back to its record low. I think you pointed to the most important yield we are looking
Countrys g. D. P. Grew by 3. 2 percent in the 2nd quarter of 2020 compared to the same period last year now the Economic Growth was a sharp rebound after the worlds 2nd largest economy contract by 6. 8 percent year over year for the 1st quarter of this year now china was the 1st nation worldwide to start lock downs and stay at home orders in january but most restrictions have since been eased more positive data came as industrial output jumped 4. 8 percent year over year for the month of june better than initial estimates from economists now some experts see these data points as a sign of an economic recovery for china however retail sales fell by 1. 8 percent for the month of june worse than analysts expectations but better than the loss of 2. 8 percent in may now meanwhile here in the United States the u. S. Commerce department announced retail sales for the Worlds Largest economy grew by 7. 5 percent in june after a massive jump of 18. 2 percent. May now this of course comes as rest
Claims to be slashed after 65 percent drop in revenue we have a lot to get to fill up get started. On thursday the u. S. Commerce department announced that the United States economy g. D. P. Plunged 32. 9 percent on an annual basis in the april through june quarter this is its worst 2nd quarter period on record where the previous worst quarter contraction was a 10 percent drop during the Eisenhower Administration in 1958 but these records dont they back to the Great Depression all hopes to end on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it brought down the g. D. P. On wednesday the Federal Reserve chairman powell warned of the lasting damage to the economy of this expectation. Even with the improve Economic News in may and june overall activity remains well below its level before the pandemic and the contract could. Traction in real g. D. P. In the 2nd quarter will likely be the largest on record. Now this comes as r