U.S. GDP PLUNGES 31.4 PERCENT IN SECOND QUARTER

Highlights

• According to the Commerce Department, the US gross domestic product (GDP) plunged at a 31.4 percent annualized rate last quarter (April-June quarter), 0.3 percent less than what was predicted a month back

• As per the economists, the US economy is likely to expand at an annual rate of 30 percent in the current year courtesy of reopening of several businesses and millions of people returning to the wor....