The U.S. economy shrank in April-June with an alarming annual rate of 31.7% as it struggled under the weight of the viral pandemic, the government estimated Thursday. It was the sharpest four-year drop on record. The Department of Commerce downgraded its previous estimate of U.S. gross domestic product last quarter, …
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BALTIMORE (AP) – The U.S. economy shrank in April-June with an alarming annual rate of 31.7% as it struggled under the weight of the viral pandemic, the government estimated Thursday. It was the sharpest four-year drop on record. The Department of Commerce downgraded its previous estimate of U.S. gross domestic …
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The number of Americans filing new claims for unemployment benefits last week totaled 1,434 million, the Labor Department reported Thursday, roughly in line with expectations, as the coronavirus pandemic continues to devastate the U.S. economy. It was the nineteenth consecutive week in which initial claims totaled at least 1 million …
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Stock markets opened significant losses Thursday morning on the news that the United States experienced the worst quarterly economic contraction on record earlier this year and an increase in weekly jobless claims. The Dow Jones Industrial Average fell 300 points, or 1.1 percent, and the S&P 500 fell 31 points, …
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The US economy experienced the largest decline in activity it has ever seen in the second quarter, although it was not as bad as feared. Gross domestic product from April to June fell 32.9%, according to the Commerce Department’s first reading of data released Thursday. Economists surveyed by Dow Jones …
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