Four key takeaways from the report on America's coronavirus-hit GDP

The US has recorded its biggest shrinkage ever and without soon-to-expire government benefits things would be much worse

Economic data released on Thursday by the government revealed that during April, May and June, the US economy experienced the most severe shrinkage in its history. The details paint a worrying picture of the US's chances of an imminent recovery.

Related: US economy suffers worst quarter since the second world war as GDP shrinks by 32.9%