[ad_1]
The US economy collapsed in the midst of the coronavirus pandemic in the April to June interval, contracting 32.9 p.c in the second quarter, the federal government reported Thursday.
The decline, although barely much less unhealthy than anticipated, was the worst on report, relationship again to 1947. The Commerce Department figures are an annual fee so not corresponding to the quarterly contractions reported in different superior economies.
The plunge in GDP was pushed largely by the drop in shopper spending, the biggest part, which fell 34.6 p.c annualized, in response to the primary estimate for the second quarter.
[ad_2]
Source hyperlink