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LATEST US DATA

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

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

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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.

Washington

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...

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