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US GDP Suffers Record Collapse, Jobless Claims Point to Stalling Recovery

US GDP Suffers Record Collapse, Jobless Claims Point to Stalling Recovery

BY TOM OZIMEK The U.S. economy suffered a historic collapse in the second quarter of this year, with Commerce Department figures showing gross domestic product (GDP) plummeting by 32.9 percent in annualized terms as business activity ground to a halt due to the pandemic. CJ Editor’s note: GDP swings are typically reported at an annual rate […]