Economic outlook: Goldman revises Q2 GDP lower with unemployment jump - Business Insider

The Reflecting Pool which has been drained for maintenance is seen in front of the Washington Monument in Washington, DC on March 26, 2020.US gross domestic product will shrink by 34% in the second quarter as the coronavirus fuels a worse-than-expected hit to the labor market, Goldman Sachs said Tuesday.sky-high jobless claims numbersUnemployment will quadruple to 15% by the second half of the year as layoffs continue, the team led by Jan Hatzius wrote.

The bank now expects second-quarter gross domestic product to contract by 34% compared to its previous expectation of a 24% slide. Unemployment will quadruple from February lows to hit 15% by the second half of 2020, the team led by Jan Hatzius wrote Tuesday. "This not only means deeper negatives in the very near term but also raises the specter of more adverse second-round effects on income and spending a bit further down the road," the team added.UBS outlines 3 major investing themes the coronavirus crisis is shaping today — and breaks down how they'll play out in the years to come

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus investing themes, strategy, outlook for next decade: UBS - Business Insider'While we expect the global economy eventually to recover, we may see changes to lifestyles and business practices,' the analysts said.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Preply raises $10 million for language learning platform - Business InsiderLanguage lesson marketplace Preply closed $10 million just before COVID-19 hit and is now seeing a 50% spike in business
Source: BusinessInsider - 🏆 729. / 51 Read more »

Industry insiders reveal how the coronavirus will change advertising - Business InsiderAd insiders from Burger King, Freshly, McCann, and Vita Coco say the coronavirus will radically change advertising, from elevating brand marketing to shrinking the holding companies 👍🏻 Clockbait
Source: BusinessInsider - 🏆 729. / 51 Read more »

SUCCESS INSIDER: Finding a job during a recession, management books - Business InsiderSUCCESS INSIDER: Recruiters who survived the Great Recession share their most urgent advice for finding a job during an economic downturn
Source: BusinessInsider - 🏆 729. / 51 Read more »

Jeff Bezos' Blue Origin rocket company deemed an 'essential' business - Business InsiderJeff Bezos' Blue Origin rocket company has been deemed an essential business by the government, allowing it to continue operating amid the coronavirus outbreak jackshafer The missing six weeks: how Trump failed the biggest test of his life: jackshafer What a f ing shock Huh? Why?
Source: BusinessInsider - 🏆 729. / 51 Read more »