U.S. GDP biggest quarterly slump in last 70 years at 32.9%

Data presented by Buy Shares indicates that the United States’ real GDP slumped by 32.9% during Q2 2020. The drop was the worst in about seventy-three years.

Over the last 70 years, notable slumps were recorded at the end of Q1 1958 when the real GDP declined by 10%.

During Q2 of 1980, there was also a major drop of 8%. In the wake of the recession at the end of Q4 2008, the real GDP declined by 8.4%.

The Buy Shares research also overviewed the real US GDP figures over the last decade where the highest figure was recorded in 2019 at $19.09 trillion.

By Q1 2020, the GDP dropped to but $19.01 trillion. 

By Q2 2020, the real GDP dropped by 9.5% to about $17.2 trillion. Over the last ten years, the lowest GDP was recorded in 2010 at $15.59 trillion. 

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