GDP sinks 4.8% in the first quarter - biggest drop since 2008 and worst is yet to come
April 29, 2020 at 08:49 AM EDT
The collapse in the U.S. economy caused by the coronavirus pandemic triggered the biggest drop in gross domestic product in the first quarter since 2008 in a prelude of an even more massive decline in the spring. GDP, the official scorecard for the economy, shrank at a 4.8% annual pace.