US economy likely logged its weakest performance in 74 years in 2020

By Lucia Mutikani WASHINGTON (Reuters) - The U.S. economy likely contracted at its sharpest pace since World War Two in 2020 as COVID-19 ravaged services businesses like restaurants and airlines, throwing millions of Americans out of work and into poverty. The Commerce Department's snapshot of fourth-quarter gross domestic product on Thursday is also expected to show the recovery from the pandemic losing steam as the year wound down amid a resurgence in coronavirus infections and exhaustion of nearly $3 trillion in relief money from the government. The Federal Reserve on Wednesday left its ben...