US economy plunges by a record-shattering 32.9 percent last quarter amid Covid-19 pandemic
US one dollar bills are seen on a light table at the Bureau of Engraving and Printing in Washington, November 14, 2014.
With Universal Mail-In Voting , 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???So steep was the economic fall last quarter that most analysts expect the economy to produce a sharp bounce-back in the current July-September period.
The plunge in GDP “underscores the unprecedented hit to the economy from the pandemic,” said Andrew Hunter, senior US economist at Capital Economics. “We expect it will take years for that damage to be fully recovered.”in the South and the West has forced many bars, restaurants, beauty salons and other businesses to close again or reduce occupancy. Between June 21 and July 19, for example, the proportion of Texas bars that were closed shot up from 25 percent to 73 percent.
“It’s just incredibly frustrating and demoralising,’’ she said. Potential employers seem to be delaying hiring decisions.
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Pandemic drives average age of cars in US to a record highThe pandemic is causing drivers to keep their cars and trucks longer, a consulting firm says. The average age of a vehicle on U.S. roads edged up by a month this year to a record 11.9 years.
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Six U.S. states see record COVID-19 deaths, Latinos hit hard in CaliforniaA half-dozen U.S. states in the South and West reported one-day records for coronavirus deaths on Tuesday and cases in Texas passed the 400,000 mark as California health officials said Latinos made up more than half its cases.
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Six U.S. states see record COVID-19 deaths, Latinos hit hard in CaliforniaA half-dozen U.S. states in the South and West reported one-day records for coronavirus deaths on Tuesday and cases in Texas passed the 400,000 mark as California health officials said Latinos made up more than half its cases. In the United States more than 1,300 lives were lost nation wide on Tuesday
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U.S. Economy Contracts at Record 32.9% Rate; Jobless Claims Rise to 1.43 MillionBreaking: The economy contracted at a record 32.9% annual rate last quarter and weekly jobless claims rose to 1.43 million amid signs of a slowing recovery
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US economy shrank at record-breaking 33% rate last quarterWASHINGTON (AP) — The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing...
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U.S. second-quarter GDP plunged by a record 32.9%, vs 34.7% expectedU.S. gross domestic product for the second quarter was expected to drop 34.7%, according to economists surveyed by Dow Jones.
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