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China’s industrial output bounced back as the global economy is handling the consequences of the COVID-19 pandemic. Meanwhile, in the United States, the US Commerce Department announced retail sales for the world’s largest economy grew in June. This comes as restrictions have softened in certain areas of the country despite recent spikes in novel coronavirus cases. However, weekly jobless claims are still coming in above 1 million as these are signs that the long-term damages are beginning to mount with permanent layoffs climbing.
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