GDP Drops 4.8% Amid Outbreak

The video discusses the economic impact of COVID-19, highlighting a 4.8% decline in GDP during the first quarter of the year, marking the first negative GDP reading since 2014. The decline is attributed to stay-at-home orders and changes in consumer behavior. Economic forecasts predict further GDP decline in the second quarter, but a potential rebound in the third and fourth quarters. The report coincides with rising virus cases and unemployment, as governments plan economic recovery.

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