The U.S. economy saw the biggest quarterly plunge in activity ever,
though the plummet in the second quarter wasn't as bad as feared.
Gross
domestic product from April to June plunged 32.9% on an annualized
basis, according to the Commerce Department's first reading on the data
released Thursday. Economists surveyed by Dow Jones had been looking for
a drop of 34.7%.
Neither the Great Depression nor the Great Recession nor any of the more
than three dozen economic slumps over the past two centuries have ever
caused such a sharp drain over so short a period of time.
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U.S. second-quarter GDP plunged by a historic 32.9%
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