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Biggest drop in US GDP since World War II – NEWS.com.au
Biggest drop in US GDP since World War II
The broadest measure of the economy gross domestic product shows the US is in free fall.US GDP plunged by an annual rate of 32.9 per cent in the last quarter, government figures revealed yesterday.
That’s the worst drop since World War II.
The New York Times summed it up with a striking headline: “Virus wipes out five years of economic growth”.
It comes as nearly 30 million American workers are set to lose (USD)$600 in enhanced weekly unemployment benefits.
The US Federal Pandemic Unemployme…
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