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US gross domestic product, the largest measure of goods and services produced in the economy, fell at an annual rate of 4.8% in the first quarter of the year, the Commerce Department announced on Wednesday. It was the first decline since 2014 and the worst quarterly contraction since the country experienced a deep recession over a decade ago.

Despite this, most of the quarter occurred before the coronavirus pandemic resulted in widespread layoffs and layoffs. Economists expect figures for the current quarter to show that G.D.P. procurement at an annual rate of 30% or more.

“They’re going to be the worst of our lives,” said Dan North, chief economist at Euler Hermes North America credit insurance company.

Here are the other big companies that reported profits today.

The deluge of This week’s first quarter reports give investors a detailed look at how the onset of the coronavirus crisis has affected businesses. Of course, the results for the second quarter of this year may well be even more dismal.

Should agreements be made in the event of a pandemic?

Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez intensified Washington’s response to corporate mergers during the pandemic. The two Democrats introduced a bill on Tuesday that would temporarily block most mergers and acquisitions, a proposal similar to that made last week by Representative David Cicilline, the Democrat who heads the House’s antitrust panel.


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