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Coronavirus Pummeled the Economy in Q1

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

U.S. real gross domestic product (GDP) decreased at an annual rate of 4.8 percent in the first quarter ended March 31, a greater decline than some forecasts, according to the advance estimate released Wednesday by the Bureau of Economic Analysis (BEA). By comparison, real GDP, adjusted for inflation, increased 2.1 percent in the fourth quarter…

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