U.S. fall in GDP signals recession

Devastated by the coronavirus, U.S. gross domestic product shrank at an annual rate of 4.8% in the January-March quarter. GDP is the broadest measure of goods and services produced by the economy


Real GDP (% change from preceding quarter, seasonally adjusted)

2007-09 “Great Recession”: Global financial crisis 
2008: Oil price leaps to over $145 per barrel
2009: Congress approves $787bn recovery package

Feb 2011: Oil price tops $100 per barrel

2014: U.S. trade deficit in goods jumps from $326.2bn in 2009 to $524.2bn in 2014 

2020: Pandemic


6 	
4 
2 		
0 
-2 
-4 
-6 
-8
-10
	Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 
	06 07 08 09 10 11 12 13 14 15 16 17 18 19 20

5.4
2.5
-2.3
-8.4
4.5
-1.0 
4.7
-1.1
5.5
3.5
3.1
2.1
-4.8


Sources: Bureau of Economic Analysis, Federal Reserve Economic Data 
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