U.S. economy plunged an annualized 31.7% in second-quarter

THE U.S. ECONOMY shrunk at an 31.7% annualized rate in the second quarter of 2020, the sharpest quarterly drop on record. / AP FILE PHOTO/DAMIAN DOVARGANES
BALTIMORE (AP) – The United States economy shrank at an alarming annual rate of 31.7% during the April-June quarter as it struggled under the weight of the viral pandemic, the government estimated Thursday. It was the sharpest quarterly drop on record. The Commerce Department downgraded its earlier estimate of the U.S. gross domestic product last…

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