1. Economy drops at a 32.9% rate

    Economy drops at a 32.9% rate

    The U.S. economy plunged by an historic 32.9 percent annual rate for the second quarter of 2020, according to the Bureau of Economic Analysis in a report released Thursday.

    That decline is the worst since the Commerce Department started measuring the gross domestic product in 1947. The effects of the coronavirus are being blamed for the downturn. “We expect it will take years for that damage to be fully recovered,” said economist Andrew Hunter.

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