Moody’s: Coronavirus control paralyzed 29% of US economy

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WASHINGTON, (BM) – Restrictive measures introduced in the United States paralyzed at least 29% of the economy. This is the assessment of the analytical unit of the international rating agency Moody’s, published by The Wall Street Journal.

Recall that the authorities of 41 of the 50 US states imposed restrictions on the movement of residents, closing catering, universities, cinemas, beauty salons, parks and non-food stores.

According to Moody’s estimates, these measures led to a drop in US GDP by about 29% per day compared with the first week of March of this year. In particular, the decline in this indicator in the state of California reaches 31.5% per day ($ 2.8 billion), and in another 15 states, which account for about 70% of US GDP, – 40% ($ 12.5 billion).

According to Moody’s analysts, the loss of another thirty states and the capital of the country reaches $ 4.9 billion per day.

“The decline at this pace will continue throughout the second quarter of this year,” predicts Mark Zandi, a leading analyst with the rating agency.

According to the agency, the gradual abolition of restrictive measures can be expected by the summer, after which there will be a relatively moderate decrease in the country’s GDP in the second quarter.

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