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us gdp

US GDP plunged nearly 35% as over 50 M Americans filed unemployment

2 mins read

The FINANCIAL — Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. Department of Labor released the data which shows that another 1.4M Americans filed unemployment claims last week. It is an increase of 12,000 from the previous week’s revised level. The decline in second quarter GDP reflected the response to COVID-19, as “stay-at-home” orders issued in March and April were partially lifted in some areas of the country in May…

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US GDP plunged nearly 35% as over 50 M Americans filed unemployment

2 mins read

The FINANCIAL — Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. Department of Labor released the data which shows that another 1.4M Americans filed unemployment…