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July 31, 2020

U.S. Economy Recorded Worst Quarterly Drop on Record as Coronavirus Spread
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The U.S. economy suffered the largest three-month collapse in its
history during the second quarter of 2020, with the coronavirus crisis
causing the equivalent of a 33% drop in annual economic output. The grim
report from the Commerce Department came as lawmakers failed to agree to
a new round of coronavirus stimulus spending. Enhanced unemployment
benefits of $600 a week have now ended, as has a four-month federal
moratorium on evictions.


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