The US Department of Commerce reported this week that Real gross domestic product (GDP) fell 32.9% in the second quarter of 2020. Dow Jones Economists that were surveyed expected a decrease of 34.7% This was the largest single drop in quarterly GDP in history with the second largest in 1921.The COVID-19 virus continues to impact the number of Americans filing for unemployment benefits In the week ending July 25 there were 1.434 million claims, which is an increase of 12,000 from the previous week's revised level. Economists polled by Dow Jones expected claims to total 1.45 million for the week ending on July 25.
Read the US Dept. of Commerce report here: https://www.bea.gov/news/2020/gross-domestic-product-2nd-quarter-2020-advance-estimate-and-annual-update