Economic Downturn

May 2020

• 4.8% quarter drop - [1]

April 2020

• 25% down on the S&P 500, which is apparently faster than Great Depression.
• 7.5 decrease in consumer spending

April 2020

This one shows 50% drop USA:

https://www.economist.com/graphic-detail/2020/04/09/how-the-covid-19-pandemic-is-changing-americans-spending-habits

This one shows 9% drop USA:

https://www.cnbc.com/2020/04/15/us-retail-sales-march-2020.html

How do we reconcile both?