July 30, 2020

US economy collapsed in Q2 amid pandemic, jobless claims rise

Washington (AFP) – The US economy collapsed in the midst of the coronavirus pandemic, suffering the largest decline on record, while hopes for a recovery took another hit as job losses increased, according to government data released Thursday.The 32.9 percent GDP contraction, though slightly less bad than expected, was the worst on record for the world’s largest economy dating back to 1947. And while President Donald Trump continues to promise a dramatic recovery, COVID-19 cases have resurged in recent weeks, eroding early signs of a rebound and forcing authorities in some states to reimpose r…

source https://this.kiji.is/en/661587491186869345?c=648607265489716321

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