U.S. 2Q GDP to Decline 39% at Annual Rate: Deutsche Bank’s Hooper

The transcript discusses the revised economic forecasts for the US and global economy, highlighting a significant GDP decline due to nonessential business shutdowns. It predicts a slow recovery, with consumer caution and a lack of a V-shaped bounce. The discussion includes an analysis of the quarterly GDP decline and the political response, emphasizing the need for substantial fiscal policy measures to address the economic shock. Unemployment is expected to peak at 20% and remain in double digits by the year's end, indicating a long recovery process.

What was the revised GDP decline rate for the second quarter at an annual rate?

• 39%

• 29%

• 49%

• 59%

How is consumer behavior expected to change according to the forecast?

• Consumers will spend more freely.

• Consumers will increase their savings.

• Consumers will maintain their usual spending habits.

• Consumers will be more cautious.

What is the expected economic decline for the year?

• 6%

• 12%

• 3%

• 9%

What is the projected peak unemployment rate mentioned in the discussion?

• 10%

• 15%

• 20%

• 25%

What is the suggested fiscal measure needed to address the economic downturn?

• 500 billion

• 1 trillion

• 2 trillion

• 3 trillion