Business

Second-quarter GDP revised up slightly to 31.4% contraction

By Jay Heflin
Published September 30, 2020 8:31am ET
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Second-quarter GDP revised up slightly to 31.4% contraction
FILE - In this Oct. 18, 2010 file photo, an Amazon.com package is prepared for shipment by a United Parcel Service (UPS) driver in Palo Alto, Calif. States could force Internet retailers to collect sales taxes under a bill that the Senate advanced on Wednesday. (AP Photo/Paul Sakuma, File) | Paul Sakuma

The economy contracted at a record-breaking 31.4% annual rate in the second quarter, the Bureau of Economic Analysis reported Wednesday in its final estimate for the quarter.

The third estimate was a slight upward revision.

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Business COVID-19 Economy GDP News