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Virus Could Drag US GDP to -13%, Spike Jobless Rate to 9%: IHS

COVID-19 recovery is on the horizon but the pandemic's impact on sustainability, retail, product development and consumer buying patterns means the denim industry must evolve. Join Rivet on April 20th at 11 am ET for the COVID, One Year Later roundtable.

As the coronavirus cuts through the U.S. economy, IHS Markit warned on Friday that second-quarter gross domestic product (GDP) will plunge to negative 13 percent. Joel Prakken, chief U.S. Economist at IHS Markit, forecast GDP to contract 1.7 percent in 2020 year over year, while unemployment approaches 9 percent by December and inflation slips to…

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