The US economy is considered the largest in the world. Even its rivals cannot outstrip its growth, the exports and imports figures, etc. Therefore, when it comes to the downfall, the scale of economic losses might be rather shocking. Notably, in many countries, such indicators would signal a complete collapse or even a loss of economic sovereignty, whereas, for the US, this is just a hard yet bearable blow to the economy. This is why despite the severe coronavirus crisis, the American economy remains strong. However, its kingly pedestal may be shaken in the second half of the year. Many economists are trying to predict the possible results. At the end of the first quarter of this year, the US GDP fell by 4.8%, the highest drop since the Great Depression. In addition, many economic sectors are unlikely to recover in the nearest future. Curiously enough, the health care system groaned the most under the coronavirus outbreak as all non-urgent operations and scheduled appointments and checkups were canceled due to the pandemic. "If the economy fell this hard in the first quarter, with less than a month of pandemic lockdown for most states, don’t ask how far it will crater in the second quarter because it is going to be a complete disaster," said Chris Rupkey, the chief financial economist at Mitsubishi UFJ Financial Group in New York. As for now, market players can only hope that the US economy will be able to survive this crisis because the world economy is unlikely to withstand its collapse.
