USA’s Bad Year by the Numbers

USA’s Bad Year by the Numbers

The US economy shrank by an annualized 5 percent in the first quarter of 2020, in line with the previous estimate and ending the longest period of expansion in the country’s history, final figures showed.

It is the biggest drop in GDP since the last quarter of 2008 as the Covid-19 pandemic forced several states to impose lockdown measures in mid-March, throwing millions of people out of work.

The next 2 quarters will reflect the impact of political riots and the new spike in Coronavirus cases.

United States GDP Growth Rate

The decrease in real GDPin the firstquarter reflected negative contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, and private inventory investment that were partly offset by positive contributions from residential fixed investment, federal government spending, and state and local government spending.Imports, which are a subtraction in the calculation of GDP, decreased.

Here is what is coming

Release schedule for economic indicators

Bureau(s)IndicatorRelease DateTime (EST)
BEAPersonal Income and Outlays, May 2020June 26, 20208:30 am
BEAU.S. International Investment Position, 1st Quarter 2020, Year 2019, and Annual UpdateJune 30, 20208:30 am
BEANew Foreign Direct Investment in the United States, 2019July 1, 20208:30 am
BEAU.S. International Trade in Goods and Services, May 2020July 2, 20208:30 am
BEAGross Domestic Product by Industry, 1st Quarter 2020July 6, 20208:30 am
BEAGross Domestic Product by State, 1st Quarter 2020July 7, 20208:30 am
BEADirect Investment by Country and Industry, 2019July 23, 20208:30 am
BEAGross Domestic Product, 2nd Quarter 2020 (Advance Estimate) and Annual UpdateJuly 30, 20208:30 am
BEAPersonal Income and Outlays, June 2020July 31, 20208:30 am
BEAU.S. International Trade in Goods and Services, June 2020August 5, 20208:30 am
BEAActivities of U.S. Multinational Enterprises, 2018August 21, 20208:30 am
BEAGross Domestic Product, 2nd Quarter 2020 (Second Estimate); Corporate Profits, 2nd Quarter 2020 (Preliminary Estimate)August 27, 20208:30 am
BEAPersonal Income and Outlays, July 2020August 28, 20208:30 am
BEAU.S. International Trade in Goods and Services, July 2020September 3, 20208:30 am
BEAU.S. International Transactions, 2nd Quarter 2020September 18, 20208:30 am
BEAPersonal Income by State, 2nd Quarter 2020 and Year 2019September 24, 20208:30 am
BEAU.S. International Investment Position, 2nd Quarter 2020September 29, 20208:30 am
BEAGross Domestic Product by Industry, 2nd Quarter 2020 and Annual UpdateSeptember 30, 20208:30 am
BEAGross Domestic Product, 2nd Quarter 2020 (Third Estimate); Corporate Profits, 2nd Quarter 2020 (Revised Estimate)September 30, 20208:30 am
BEAPersonal Income and Outlays, August 2020October 1, 20208:30 am
BEAGross Domestic Product by State, 2nd Quarter 2020 and Annual Update, 2019October 2, 20208:30 am
BEAU.S. International Trade in Goods and Services, August 2020October 6, 20208:30 am
BEAPersonal Consumption Expenditures by State, 2019October 8, 20208:30 am
BEAGross Domestic Product, 3rd Quarter 2020 (Advance Estimate)October 29, 20208:30 am
BEAPersonal Income and Outlays, September 2020October 30, 20208:30 am
BEAU.S. International Trade in Goods and Services, September 2020November 4, 20208:30 am
BEAActivities of U.S. Affiliates of Foreign Multinational Enterprises, 2018November 13, 20208:30 am
BEAPersonal Income by County and Metropolitan Area, 2019November 17, 20208:30 am
BEAGross Domestic Product, 3rd Quarter 2020 (Second Estimate): Corporate Profits, 3rd Quarter 2020 (Preliminary Estimate)November 25, 20208:30 am
BEAPersonal Income and Outlays, October 2020November 25, 202010:00 am
BEAU.S. International Trade in Goods and Services, October 2020December 4, 20208:30 am
BEAGross Domestic Product by County and Metropolitan Area, 2019December 9, 20208:30 am
BEAReal Personal Income by State and Metropolitan Area, 2019December 15, 20208:30 am
BEAPersonal Income by State, 3rd Quarter 2020December 17, 20208:30 am
BEAU.S. International Transactions, 3rd Quarter 2020December 18, 20208:30 am
BEAGross Domestic Product, 3rd Quarter 2020 (Third Estimate); Corporate Profits, 3rd Quarter 2020 (Revised Estimate)December 22, 20208:30 am
BEAGross Domestic Product by Industry, 3rd Quarter 2020December 22, 20208:30 am
BEAPersonal Income and Outlays, November 2020December 23, 20208:30 am
BEAGross Domestic Product by State, 3rd Quarter 2020December 23, 202010:00 am
BEAU.S. International Investment Position, 3rd Quarter 2020December 29, 20208:30 am
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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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