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GDP Set to Plummet to Historical Low in Second Quarter: IHS

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IHS Markit said in advance of Thursday’s release of the first estimate of second-quarter gross domestic product (GDP) by the Bureau of Economic Analysis (BEA) that U.S. GDP will contract by an historic 35.3 percent annualized rate. “This would be far and away the steepest one-quarter decline in quarterly data dating back to 1947,” Ben…

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