U.S. Q1 GDP shrinks by 4.8% amid COVID-19 pandemic

The U.S. gross domestic product(GDP) shrank by 4.8 percent in the first quarter of 2020, marking the worst dive since the fourth quarter of 2008 when the number was recorded at 8.4%.

According to the U.S. Bureau of Economic Analysis report, the staggering decline of GDP between January and March, was in part, due to the response to the spread of COVID-19, as the U.S. government issued "stay-at-home" orders in March.