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US Economic Shocker: New Forecast Sees 37% GDP Decline, Consumer Spending Down 43%

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A stunning 37 percent annualized decline in gross domestic product (GDP) is expected in the second quarter, IHS Markit economists said in a new forecast for the U.S. Joel Prakken and Chris Varvares, co-heads of U.S. economics for IHS Markit, said an upturn should begin in the third quarter, but warned that it will likely…

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