The U.S. economy contracted for the first time since 2014 in the first three months of 2020
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Amid the COVID-19 crisis that has hit the U.S. economy with full force in late March, the downturn was widely expected and is feared to be a mere taste of worse things to come. Considering that large parts of the country have been on lockdown through all of April and that more than 40 million Americans filed for unemployment benefits during the pandemic, it’s all but certain that things will get worse before they get better.
Experts consider a recession inevitable at this point, the question now being how long and how deep it will be..