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Three Alarming Economic Numbers That May Force A Second Stimulus Deal In Washington
Negotiations in Washington over the next stimulus bill may get a boost from a spate of grim economic numbers including a major GDP contraction, more weekly unemployment claims and a new analysis of Paycheck Protection Program aid that all paint a picture of an economic recovery on the brink of collapse. • The Commerce Department said Thursday that U.S. GDP had fallen a historic 9.5% from the first quarter to the second quarter. • Meanwhile, new data from the Labor Department shows weekly unemployment claims rose for the second week in a row after several straight months of declines from the March peak. • On top ... (full story)