GDP Drops At 32.9% Rate, The Worst U.S. Contraction Ever : Coronavirus Live Updates : NPR

The coronavirus pandemic triggered the sharpest economic contraction in modern American history, the Commerce Department reported

The coronavirus pandemic triggered the sharpest economic contraction in modern American history, the Commerce Department reported Thursday.

Gross domestic product — the broadest measure of economic activity — shrank at an annual rate of 32.9% in the second quarter as restaurants and retailers closed their doors in a desperate effort to slow the spread of the virus, which has killed more than 150,000 people in the U.S.

GDP Drops At 32.9% Rate, The Worst U.S. Contraction Ever : Coronavirus Live Updates : NPR