The US economy contracted at the sharpest rate on record in the second quarter this year, affirming fears that the coronavirus pandemic and measures to contain it drove a historic plunge in consumer and business activity.
Here were the main metrics from the Bureau of Economic Analysis’ (BEA) advance Q2 GDP report, compared to consensus estimates compiled by Bloomberg:
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Q2 GDP annualized, quarter over quarter: -32.9% vs. -34.5% expected vs. -5.0% in Q1
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Q2 Personal consumption: -34.6% vs. -34.5%…
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