US suffers worst economic decline on record in second quarter as GDP contracts by 32.9%
Thursday, 30 July 2020 The United States has suffered its worst economic decline on record with the nation's gross domestic product (GDP) contracting by 32.9 percent in the second quarter, as the coronavirus pandemic continued to cause one of the largest financial crises in history.
The euro zone economy recorded its deepest contraction on record in the second quarter, preliminary estimates showed on Friday, while the bloc's inflation unexpectedly ticked up in July. Ciara Lee reports
Equity benchmark indices closed marginally lower on Friday in line with Asian peers following a record contraction in economic data from the United States. The BSE SandP Sensex was down by 129 points..