Gross GDP

In 20Q2, GDP declined by a whopping -9.5%, the worst quarter since record keeping began in 1947, probably the worst quarter ever. Since 1947, the worst contraction had been 2.6% in 58Q1. GDP began recovering in May and June, reducing the massive 20Q2 decrease. Even if there is no improvement in GDP during Q3, 20Q3 will still show a quarterly GDP rise of about +4%, as there was no lockdown.