See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

GDP Plunged 32.9%: Here's Why It Matters

Posted on AllSides July 30th, 2020
From The Center

The Commerce Department's initial estimate of U.S. gross domestic product (GDP) in the second quarter was, in a word, historic. The value of all goods and services purchased last quarter plunged at a 32.9% annual rate. This followed a 5% contraction in the first quarter of 2020.

The BEA offered the following assessment of this decline in GDP:

“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 and June,...

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right