You are here


Covid-19 slashes US GDP by 33% in second quarter, outlook shaky

Decline is steepest since the Great Depression, as pandemic shatters spending

The Labor Department says the number of Americans filing for unemployment benefits has increased for a second straight week, a sign that the economic rebound is increasingly at risk.


THE US economy contracted at its steepest pace since the Great Depression in the second quarter as the Covid-19 pandemic shattered consumer and business spending, and a nascent recovery is under threat from a resurgence in new cases of coronavirus.

Gross domestic product...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to