U.S. GDP Suffers Worst Recorded Drop In American History

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The United States GDP suffered the worst recorded drop in American history in Q2 2020, an annualized rate of nearly 33 percent.

According to the Bureau of Economic Analysis, GDP “decreased at an annual rate of 32.9 percent in the second quarter of 2020.” The BEA calculates changes in GDP based on what would happen if the same growth or decrease happened for an entire year.

“In the first quarter, real GDP decreased 5.0 percent,” the BEA declared, noting, however, that the Q2 “estimate” is “based on source data that are incomplete or subject to further revision by the source agency.”

“The ‘second’ estimate for the second quarter, based on more complete
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