The numbers: The collapse of the U.S. economy because of COVID-19 is becoming more evident by the day, the latest sign a record 6.7% decline in the leading economic indicators in March.
The decline is all but certain to be even worse in April — probably a lot worse. The economy only started shutting down in the second half of March as the states and federal government ramped up efforts to slow the spread of the coronavirus.What happened: The leading economic index showed deterioration in the economy across the board, the Conference Board said Friday.
Big picture: The U.S. economy is hurting badly, as is the rest of the world, a global recession is already here. How long it last and how much worse it gets depends on whether nations succeed in slowing the spread of the virus.President Trump on Thursday offered guidelines on how the economy can reopen, but it’s going to months if not longer before things start to show any semblance of normality.
Source: Financial Digest (financialdigest.net)
Meanwhile equity indexes up in the US. Persons are smart, people are sheep
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