Companies in the U.S., Europe and Asia reported heavy losses or reduced revenue as virus-containment measures curtailed consumer spending and upended supply chains
Governments and companies across a variety of industries took new measure of economic damage from the coronavirus pandemic and some predicted bigger losses in the months ahead even as restrictions on movement are rolled back.
U.S. gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 4.8% in the first three months of the year, a steeper decline than expected.
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