October 25, 2020

New California closure orders will hamper recovery from coronavirus recession

BUSINESS DAILY
BUSINESS DAILY
BUSINESS DAILY © FRANCE 24

California has shut down businesses including bars and gyms, after a spike in new cases of Covid-19. The new measures will hamper a recovery for the state’s economy, which is the largest in the United States. It comes as lawmakers in Washington discuss a new stimulus plan, and the federal budget deficit hit a record high in June. The gap between the government’s income and expenditure for this year fiscal year is likely to exceed $3 trillion.