US GDP to fall 38% in the second quarter of 2020

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US GDP to fall 38% in the second quarter of 2020

The US Gross Domestic Product (GDP) will fall at an annualized rate of 38% in the second quarter of this year due to the social distancing measures im

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The US Gross Domestic Product (GDP) will fall at an annualized rate of 38% in the second quarter of this year due to the social distancing measures implemented to contain the spread of Coronavirus.

That is the estimate, according to forecasts released Tuesday by the Congressional Budget Office (CBO).

Regarding unemployment, the CBO forecasts a decrease in the number of employed people by more than 25 million and a reduction in the size of the workforce by more than 8 million.

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