US GDP could shrink by 13% in 2nd quarter as part of ‘severe global recession,’ Deutsche Bank says

A General Motors assembly worker works on assembling a V6 engine, used in a variety of GM cars, trucks and crossovers, at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.

The U.S economy will contract by 13% on an annualized basis in the second quarter because of disruptions from the coronavirus outbreak, according to a new Deutsche Bank forecast on Wednesday.