U.S. suffered worst quarterly contraction on record as virus ravages economy

“This is obviously the ugliest quarter we’ve ever seen in our history,” Edward Moya, senior analyst at currency trading firm OANDA, said of the Commerce Department’s initial estimate of second-quarter gross domestic product, which showed the economy contracting 32.9 percent on an annualized basis, the biggest drop in more than seven decades of records. “A […]

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