COVID-19 Crushing U.S. Economy

July 30, 2020 11:30 PM
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The U.S. economy suffered its biggest blow since the Great Depression in the second quarter as the COVID-19 pandemic shattered consumer and business spending, and a recovery is under threat from a resurgence in new cases of coronavirus. The bulk of the deepest contraction in at least 73 years reported by the Commerce Department on Thursday occurred in April when activity almost ground to an abrupt halt after restaurants, bars and factories among others were shuttered in mid-March to slow the spread of coronavirus.