GDP Report To Show Economy Sliding Into Recession

WASHINGTON (AP) – The U.S. economy began 2020 riding the crest of a record-long expansion with every expectation that its 11th year of growth would not be its last. Then the economy screeched to a sudden halt. And now it’s in free-fall. On Wednesday, the government will offer a glimpse of how dark the picture has grown and how much worse it could get as the coronavirus pandemic inflicts ruinous damage. The Commerce Department is expected to estimate that the gross domestic product sank at an annual rate of 5% or more in the January-March quarter. And yet forecasters say that will be only a precursor of a far grimmer GDP report to come on the current quarter.