The Nasdaq undercut key support on recession fears, and analysts predicted the U.S. economy would “get worse” by the end of this year, according to a chart by Bloomberg, a Web based business analysis company.
The report found the U.S. economy was likely to “get worse” by the end of this year. The U.S. unemployment rate is expected to “run out” in 2017, a source on the report said.
U.S. Treasury Secretary Robert Lighthizer said the U.S. jobless rate increased 1.3 percent last year, as well as the “drain” in the economy that’s being hit by “economic storms.” The economy is also “losing” in the second quarter as the U.S. economy has become more competitive in the event of the coronavirus pandemic.
The chart does show the U.S. economy is likely to “get worse” by the end of this year, a source on the report said.