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The Right Coast
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U.S. second-quarter GDP plunged by a record 32.9%

By Thomas A. Smith

The U.S. economy saw the biggest plunge in activity it has ever known in the second quarter, though it wasn t quite as bad as feared.

Gross domestic product from April to June plunged 32.9%, according to the Commerce Department s first reading on the data released Thursday. Economists surveyed by Dow Jones had been looking for a drop of 34.7%.

Still, it was the worst drop ever, with the closest previously coming in mid-1921.

via www.cnbc.com