Economy plunges 31.4% in spring but big rebound expected

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Revised GDP figures from the Commerce Department show. The second quarter downturn was not quite so disastrous as initially reported, though the economy still shrank at a jaw dropping annual rate of 31.4%. A revision show consumer spending in the quarter was somewhat stronger than first reported, while exports and business investment were somewhat weaker. The economy has enjoyed a partial rebound in the third quarter, which ends today. But there are signs that recovery is losing steam as federal relief payments dry up negotiations over a possible new round of relief payments continue in Washington, but there's been no breakthrough yet. Scott Horsley.

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