U.S. GDP contracts 5 percentChristian Fernsby ▼ | May 29, 2020
The U.S. Commerce Department said gross domestic product contracted at a 5 percent annualized rate in the first quarter, the deepest drop in output since the 2007 to 2009 Great Recession.
Annualized rate U.S. homes
Topics: U.S. GDP
In a separate report released yesterday, initial jobless claims for regular state programs totaled 2.12 million in the week ended May 23, while benefit rolls declined for the first time during the pandemic. ■