Economy

Why partially reopening states does not guarantee economic recovery

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The U.S. economy has faced a substantial loss due a nationwide shutdown. On April 29, the Bureau of Economic Analysis reported that the gross domestic product shrank by 4.8% in the first quarter, the lowest it’s been since the worst of the 2008 financial crisis. It’s partially due to a steep 7.6% drop in consumer spending, which makes up about two-thirds of total GDP.

Although most of the U.S. remains under lockdown, states including Georgia began reopening on April 24. State guidelines for reopening differ widely, but a key difference lies in which sector will open first and the speed of the process. Less-impacted states like Iowa simultaneously opened restaurants, fitness centers,…



Source cnbc.com

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