Economy

The Covid recession lasted just two months, the shortest in U.S. history

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Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.

Mike Blake | Reuters

The Covid-19 recession is in the books as one of the deepest — but also the shortest — in U.S. history, the official documenter of economic cycles said Monday.

According to the National Bureau of Economic Research, the contraction lasted just two months, from February 2020 to the following April.

Though the drop featured a staggering 31.4% GDP plunge in the second quarter of the pandemic-scarred year, it also saw a massive snapback the following period, with previously unheard of policy stimulus boosting output by…



Source cnbc.com

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