Economic activity unexpectedly slumped between April and June as consumers pared spending on autos and other items. alabamanewsnetwork
in the first three months of the year and means the U.S. could currently be in a recession, which is broadly defined as two straight quarters of negative growth.in 40 years is crimping household budgets, with some consumers struggling to cover basics such as gasoline, food and rent, which have sharply risen in price from a year ago. for the fourth time this year in an effort to dampen inflation.
Boussour added,"While we continue to see a pathway to a softish landing, it's admittedly narrowing." The economy is showing signs of strength in other areas, such as job growth, which makes it harder to assess whether the nation has slipped into a recession, economists said. The National Bureau of Economic Research has"been the unofficial scorekeepers of U.S. recessions," he said in a report."Their definition is a broader one and includes declines in employment which clearly have not occurred so far this year."
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