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Business Insider/Carmen Reinecke/5-11-2020
“Deutsche Bank now expects that lockdowns to curb the spread of COVID-19 will have a more severe impact on the US economy than previously thought. The firm sees US gross domestic product slumping nearly 40% in the second quarter, Matthew Luzzetti, chief US economist, wrote in a Tuesday note. The bank previously had forecast a 13% slump as part of a severe recession due to the coronavirus pandemic.”
USAGOLD note: If a 13% drop in GDP is “severe”, what adjective best describes a 40% hit?