Right. This mis-statement is endemic in financial journalism. In ordinary circumstances quoting the change in terms of the annual rate of change is useful - p

Right. This mis-statement is endemic in financial journalism. In ordinary circumstances quoting the change in terms of the annual rate of change is useful - provided it's correctly described as that! - but in the present circumstance it makes no sense. Nobody is expecting a new pandemic every quarter, so that the 9.5% drop this quarter will be followed by another 9.5% drop next quarter, and so on indefinitely...