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US Real GDP Contracts by 31.4% in Q2

The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.4% in the second quarter, the US Bureau of Economic Analysis’ final (third) estimate showed on Wednesday. This reading came in slightly better than the previous estimate and the market expectation of -31.7%.

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Chinese Manufacturing Activity Expanded in September

China announced that manufacturing activity expanded in September as the world’s second-largest economy continued to show signs of recovering from the coronavirus pandemic. The official PMI manufacturing index for September came in at 51.5 compared to 51.0 in August, according to the National Bureau of Statistics. PMI readings above 50 …

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