US economy contracts by Reuters in second quarter at 31.4% annual rate


2/2
© Reuters. Luxury retail store closed on 5th Avenue in Manhattan during an outbreak of Coronavirus disease (COVID-19) in New York

2/2

WASHINGTON (Reuters) – The US economy suffered the fastest contraction in at least 73 years in the second quarter due to disruptions from coronovirus, the government confirmed on Wednesday.

The Commerce Department, in its third estimate of GDP, said that GDP fell at a 31.4% annual rate in the previous quarter, the deepest drop in production, as the government began to record in 1947. Output was contracted at a 31.7% pace in the second quarter.

Disclaimer: Fusion media Would like to remind you that the data in this website is not necessary for real time nor is it accurate. All CFDs (stocks, indexes, futures) and foreign exchange prices are offered not by exchanges but by market makers, and therefore prices may not be accurate and may differ from actual market prices, meaning that the price is indicative Are and are not suitable for business purposes. Therefore Fusion Media assumes no responsibility for any business losses resulting from using this data.

Fusion media Or any person associated with Fusion Media shall not accept any liability for loss or damage resulting from reliance on information including signals, data, quotes, charts and buy / sell information contained within this website. Please be fully informed about the risks and costs associated with trading financial markets, this is one of the most risky forms of investment possible.

Leave a Reply

Your email address will not be published.