Global EditionASIA 中文双语Français
China Daily / 2020-08 / 01 / Page007

Pressures on US economy deepen

By SCOTT REEVES in New York | China Daily | Updated: 2020-08-01 00:00

Initial jobless claims rose for a second consecutive week in the US, with the grim employment data following hot on the heels of a record contraction in the economy as the impact of the coronavirus pandemic deepens, government statistics show.

The nation's gross domestic product fell at a 32.9 percent annualized rate in the second quarter and 9.5 percent compared with the same period a year ago-the sharpest decline for both tallies since 1947 when record-keeping began, the US Commerce Department reported on Thursday.

Initial jobless claims rose for the second week in a row amid an increase in coronavirus infections and new orders by governors to close the economy in some states, the department said.

Report cites rights progress in Tibet

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US