American Bank holding company, Bank of America announced that the United States has begun a full-scale financial crisis due to the spread of the coronavirus.
It is reported by CNBC, citing a report of senior analyst financial institutions Michelle Meyer.
“We officially declare that the us economy fell into recession, joining the rest of the world, and this is a very deep drawdown”, — said the analyst.
She noted that the recession in the us economy will not take place.
According to her, the accumulation of the United States virtually destroyed and the country will increase unemployment. She predicts that the results of II quarter of the year the American economy will fall to 12% of GDP compared to the previous.
This forecast is the financial organization has made in assessing the prospects for us labour market. Meyer predicts that the number of unemployed in the United States will soon be twice as much in the II quarter monthly will increase by about 1 million people, reaching the result of 3.5 million
However, the analyst believes that the economic crisis in the US will be short-term. She stressed that the US government should not skimp on incentives to support the economy.