First Major Coronavirus Impact on Headline Economic Reporting
Devastated March Activity - Only the Final Third of First-Quarter 2020 GDP

Despite Muted Pandemic Impact, Pending First-Quarter 2020 GDP Contraction
Should Rival the Depths of the Great Recession

Fully Hit Second-Quarter GDP Contraction Should Rival the
Depths of the Great Depression, or Worse

Since the March 2020 Unemployment Survey, 22 Million New Claims for
Unemployment Insurance Have Been Filed, Suggestive of Headline
April 2020 Unemployment Topping 22%; It Will Get Worse

April 2020 Unemployment Rate Will More Than Double Anything Seen
Post-World War II, Worst Since the Great Depression

March 2020 Real Retail Sales Plunged by a Record Monthly 10.3% (-10.3%)

March 2020 Industrial Production and Manufacturing Showed Their
Deepest Monthly Plunges Since the Post-World War II Production Shutdown

What Had Been a Recent Boom in Housing Starts and Building Permits
Was Flattened in First-Quarter 2020 by Weakened March Activity,
Second-Quarter 2020 Plunge Already Is in Play

First- and Second-Quarter 2020 Quarterly Contractions in Real Retail Sales and
Manufacturing Follow Pre-Pandemic Fourth-Quarter 2019 Contractions