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The US entered a recession. AMC Lost $2 Billion. And The Meat Industry is collapsing.
15 minutes Posted Jun 12, 2020 at 10:39 pm.
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The US entered a recession. AMC Lost $2 Billion. And The Meat Industry is collapsing.
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#recession #amc #meat
Here is what we will try to cover:
The U.S. entered a recession in February, according to the official economic arbiter
The meat industry could face losses of $20 billion in 2020
AMC Theatres Reports $2.2 Billion Loss, Aims to Fully Reopen in July
Boeing aircraft cancellations continue to outpace new orders
Honda's global operations hit by cyber-attack
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Source:
https://www.cnbc.com/2020/06/08/the-us-entered-a-recession-in-february-according-to-the-official-economic-arbiter.html
https://www.cnbc.com/amp/2020/06/09/coronavirus-may-cause-the-meat-industry-to-face-losses-of-20-billion.html?__twitter_impression=true
https://variety.com/2020/film/news/amc-theatres-loss-coronavirus-1234629487/
https://www.cnbc.com/2020/06/09/boeing-aircraft-cancellations-continue-to-outpace-new-orders.html
https://www.bbc.com/news/technology-52982427
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Description:
The worst U.S. downturn since the Great Depression is now officially a recession, according to the National Bureau of Economic Research.
Though it seemed a foregone conclusion, the NBER, the official arbiter of recessions, made the declaration Monday as the nation tries to recover from the c word.
“The committee recognizes that the pandemic and the public health response have resulted in a downturn with different characteristics and dynamics than prior recessions,” the NBER’s Business Cycle Dating Committee said in a statement. 
“Nonetheless, it concluded that the unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warrants the designation of this episode as a recession, even if it turns out to be briefer than earlier contractions.”
In making the declaration, the committee determined that a “clear peak in monthly economic activity” occurred in February. The peak in quarterly activity happened in the fourth quarter of 2019.
As a rule of thumb, recessions are thought to entail two consecutive quarters of negative GDP growth.
The committee noted that “a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity
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