The US economic recovery still faces these 5 hurdles going forward, even with the worst of the coronavirus recession likely passed

Associated Press

• This week, a number of economic indicators showed just how shaky the US recovery from the coronavirus pandemic has become even though the worst of the recession is likely over. 
• US GDP fell a record 33% in the second quarter, initial jobless claims ticked up for the second week in a row, and consumer sentiment slumped further. 
• Going forward, these are five hurdles that the economic recovery from the pandemic recession faces. 
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This week, a number of economic reports showed just how much the coronavirus pandemic hit the US economy, and that the recovery from the pandemic recession is still fragile even as states reopen. 

On Thursday, the Commerce Department released figures showing that US gross domestic product slumped a record 33% in the second quarter due to the impact of sweeping shutdowns to contain the spread of coronavirus. The backward-looking report, which reflects the months of April, May, and June, showed just how deep of a hole the pandemic has caused for the US economy, and shaped what a full recovery will require. 

See the rest of the story at Business Insider

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See Also:

• US GDP report showed 'how big of a hole we have to dig ourselves out of': Here's what 5 economists are talking about following the record output slump
• US weekly jobless claims hit 1.4 million, post second straight weekly increase
• US GDP plunged by a record 33% annual rate in the 2nd quarter as coronavirus lockdowns raged

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