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US GDP Plunges 32.9 Percent in Worst Second Quarter Ever

Video Credit: Cover Video STUDIO - Duration: 01:03s - Published
US GDP Plunges 32.9 Percent in Worst Second Quarter Ever

US GDP Plunges 32.9 Percent in Worst Second Quarter Ever

The percentage is the worst decline in US history, eclipsing every major economic disaster, including the Great Depression.


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Great Depression Great Depression worldwide economic depression starting in the United States, lasting from 1929 to the end of the 1930s

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While the US has made it through the Great Depression and a number of recessions, the COVID-19 pandemic has put a new twist on the experience. According to Business Insider, the lowest-earning households have taken the biggest hit to their incomes, in terms of percentage of income lost. However, upper-income consumers have made the deepest spending cuts in total dollar amounts. That's because they have so much budgetary fat to trim.

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US suffers worst economic decline on record in second quarter as GDP contracts by 32.9%

The United States has suffered its worst economic decline on record with the nation's gross domestic...
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US suffers economic blow as GDP sinks by annual rate of 32.9 percent [Video]

US suffers economic blow as GDP sinks by annual rate of 32.9 percent

US suffers economic blow as GDP sinks by annual rate of 32.9 percent

Credit: nypost     Duration: 00:51Published