US Economy is in Dire Straits: Bank of America Slashes GDP Forecast to Zero

That is Bank of America’s latest forecast for the growth of the U.S. economy in the second quarter.

The second-largest American bank by assets on Friday revised down its estimate for GDP growth in April through June from 1.5 percent to 0.0 percent, citing weaker than expected consumer spending reported by the Department of Commerce on Thursday.

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