米国経済 4.8％減少 2020年第1四半期

The US economy contracted by 4.8% q/q annualised in the first quarter of 2020, the advance estimate shows. The sudden drop in economic activity had largely been expected in view of the response to the spread of the COVID-19 pandemic, with the US State governments issuing “stay-at-home” orders in March.

The decline in real GDP reflected negative contributions from personal consumption expenditures (which declined at an annualised 7.6% q/q), non-residential fixed investment (down 8.6%), goods and services exports (by 8.7%, with services falling by 21.5%), and private inventory investment (or stock building).

There were positive contributions from residential fixed investment (rising at an annualised 21% q/q), a steep contraction in goods and services imports (by 15.3%) and from government spending at the federal, state and local levels despite sharply lower growth of defence spending.

More data and analysis on the US Economy and on the COVID-19 pandemic’s impact can be found on the CEIC US Economy in a Snapshot – Q2 2020.