US economy suffers worst quarter since the second world war as GDP shrinks by 32.9%

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Drop in quarterly gross domestic product comes as 1.43 million people file for unemployment benefits, a second week of increases, amid Covid-19 pandemic

The US economy shrank by 32.9% between April and June, its sharpest contraction since the second world war, government figures revealed on Thursday, as more signs emerged of the coronavirus pandemic’s heavy toll on the country’s economy.

The record-setting quarterly fall in economic growth came as another 1.43 million Americans filed for unemployment benefits, a second week of rises after a four-month decline.

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