5 economic recession signals show how fast a slowdown is hitting US - Business Insider

Read more: 'I've gone to cash': Mark Cuban outlines his coronavirus investing strategy ahead of another 'leg down' in markets — and says now is the time to buy real estate"A V-shaped recovery is pretty low on my list likely outcomes," Seth Carpenter, chief US economist at UBS, told Business Insider. Here's all the economic data released this week that show the full impact of the coronavirus pandemic on the US: US retail sales fell a record 8.7% in March, the Commerce Department said Wednesday. Sporting goods, hobby, and book stores, gas stations, and other miscellaneous retailers also posted double-digit declines in just one month.Food and beverage stores were one bright spot, gaining 25.6% from February, as US consumers stocked up on supplies for the coronavirus lockdown.Read more: Bank of America breaks down how to build the perfect post-coronavirus portfolio — one designed to recover losses and get ahead of an eventual economic recoveryIndustrial production and manufacturing output posted their largest declines this month since 1946, the Federal Reserve said in a Wednesday report. That means that coronavirus-related layoffs have effectively erased the 22 million jobs that the US economy added since the post-Great Recession recovery starting in mid-2009.Read more: Morgan Stanley handpicks the 18 best US stocks to buy now while they're cheap to enjoy profits for years to comeUS housing starts plummeted by 22.3% in March, the Commerce Department announced Thursday.