Category: Shrank

The U.S. Economy Shrank By Record Shattering 33% Last Quarter
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The U.S. Economy Shrank By Record Shattering 33% Last Quarter

The U.S. economy shrank in the second quarter by the fastest rate since the government began keeping track of gross domestic product after World War II, as lockdowns aimed at curbing the coronavirus pandemic decimated economic activity and anti-police riots tore through many American cities. Gross domestic product, or the value of all goods and…

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U.S. Economy Shrank at 4.8% Pace in First Quarter
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U.S. Economy Shrank at 4.8% Pace in First Quarter

The U.S. economy shrank at a 4.8 percent pace in the first three months of 2020, the worst plunge since 2008. This was the first negative reading for gross domestic product, the broadest measure of goods and services produced by the economy, since 2014. Economists had expected a contraction of 3.7 percent. The report indicates…

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