COVID-19 has taken serious toll on economy of America. Millions of Americans have been rendered jobless in the pandemic.
Gross Domestic Product has shrunk at the pace of 32.9% by second quarter. America has seen the sharp downturn for the first time since 1940s.
This major slump is due to the Economic shut down and forced stay at home in an effort to slowdown the Covid 19 cases within the country.
Massive fiscal stimulus by the government has helped the country in regaining the pace of economic recovery in May.
However, America still faces a severe threat from Coronavirus. The government’s failure in containing the virus has led to slow economic growth. Covid cases are still rising within the country. According to analysts America will still take time in fully recovering its economic devestation
