NPR
The coronavirus pandemic is likely to trigger the sharpest recession in the United States since the Great Depression. An early signal of that came Wednesday, when the Commerce Department said the economy shrank at a 4.8% annual rate in the first three months of the year — the first quarterly contraction since 2014 and the largest since the Great Recession. … The first-quarter drop was the biggest since an 8.4% dive in the fourth quarter of 2008. It marked a reversal from the 2019 fourth quarter's 2.1% growth rate.