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Economy shrinks at record 32.9% pace in Q2

from Pensions&Investments

Economy shrinks at record 32.9% pace in Q2 Pensions&Investments The U.S. economy suffered its sharpest downturn since at least the 1940s in the second quarter, highlighting how the pandemic has ravaged businesses across the country and left millions of Americans out of work. Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department's initial estimate showed recently. READ MORE

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