U.S. Economy Shrinks At Record 32.9% Pace in Q2

U.S. economy suffered its sharpest downturn since at least the 1940s in the second quarter.
COVID-19 has ravaged businesses across the country and left millions of Americans jobless.
Gross domestic product shrank 9.5% in the second quarter from the first.
It is a drop that equals an annualized pace of 32.9%, steepest annualized decline dating back to 1947.
Personal spending slumped an annualized 34.6%, also the most on record.
The number of Americans filing for unemployment benefits increased...