US GDP falls 4.8% as Covid-19 lockdown weighs on growth

The US economy has contracted at its fastest pace in over a decade, due to the coronavirus pandemic and lockdown. The 4.8 percent drop in the first quarter of 2020 was steeper than most economists had predicted and the sharpest slowdown since the financial crisis in 2008. Also on the show: the aviation sector is in focus, as Boeing announces thousands of job cuts and Airbus scales back production. Global air traffic has been cut in half as the pandemic drags on.