US economy plunged 31.4 percent in Q2, big bounce back expected | US & Canada News

The United States economy plunged at an unprecedented rate this spring and even with a record rebound expected in the just-ended third quarter, the US economy will likely shrink this year for the first time since the Great Recession. Gross domestic product (GDP), which measures the economy’s total output of goods and services, fell at a rate of 31.4 percent in the April-June quarter, only