7 economic indicators that show the continued impact of COVID-19 - Business Insider

Last week's April jobs report showed that the US economy lost a record 20.5 million jobs and the unemployment rate spiked to 14.7%, the highest since the depths of the Great Depression. On the flip side, the survey's index of sales expectations posted the sharpest drop from March, slumping 30 points to negative 42, the lowest reading in 46 years. Read more: Buy these 13 tech stocks that are abnormally disconnected from Wall Street's expectations for profit growth and poised to rocket higher, Credit Suisse saysThe core consumer-price index fell 0.4% in April, following a 0.1% decline in March, according to a Tuesday report from the Labor Department. "The 23% cumulative fall in retail sales over the last two months this alone is enough to knock more than 6 percentage points off the level of nominal GDP," said James Knightley, chief international economist at ING, in a Friday note.The University of Michigan's consumer-sentiment index gained to 73.7 in May from 71.8 in April according to preliminary data released Friday.