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US Economy Headed for 26.5% Q2 GDP Drop, Levels Not Seen Since Great Depression

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An historic COVID-19 outbreak could bully the U.S. economy into Great Depression-esque stagnation. IHS Markit economists on Friday forecast a historic contraction ahead, as social distancing meant to flatten the curve of the coronavirus pandemic freezes large segments of the American economic engine. IHS Markit now estimates that gross domestic product (GDP) declined at a…

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