Business
US economy ‘speeds towards cliff’ with worst plunge on record – The New Daily
The US economy has suffered its deepest contraction in at least 73 years, with pressure mounting on the government to launch a second stimulus package.
The US economy has suffered its worst quarterly plunge ever as millions of people lose their jobs and the COVID-19 pandemic shatters consumer and business spending.
The 32.9 per cent downturn in the April-June quarter is the deepest decline since records began and is three times more severe than the previous record of 1958.
But President Donald Trump’s campaign has shrugged off the slump in gross domestic product, saying the economy is “rebounding” and instead raised the prospect of delaying N…
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