Despite the contraction, experts say they believe the economy is not heading into a recession.
WASHINGTON — The U.S. economy shrank at a 0.6% annual rate from April through June, the government said Thursday in an upgrade from its initial estimate. It marked a second straight quarter of economic contraction, which meets one informal sign of a recession.
Rent is surging from coast to coast, forcing tenants to make difficult decisions when it comes to their bills. In the meantime, signs of economic weakness are growing. The rise in borrowing costs has weakened the housing market, in particular. Sales of both new and existing homes are down sharply, and the pace of home construction in July sank to its lowest point since early last year. Similarly, retail sales were flat last month, with inflation and higher loan rates forcing many households to spend more cautiously.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Family Hour: An Oral History of The Sopranos | Vanity Fair | April 2012Since that controversial last episode of The Sopranos, in June 2007, the cast and crew have never spoken so candidly about the show that changed both their lives and the showbiz landscape. With creator David Chase leading the way, SAM KASHNER gets a behind-the-scenes history of a national obsession as James Gandolfini, Edie Falco, Michael Imperioli, and other Sopranos insiders talk about their years as a family, the trauma when someone got whacked, and making their peace with the finale
Read more »
April Carney, Charlotte Joyce win Duval County School Board seats with DeSantis endorsementsThe Duval County Republican Party said the vote 'rejects the WOKE indoctrination, sexualization, and Marxist polices that have been allowed to occur.'
Read more »
April Carney, Charlotte Joyce win races for Duval County School BoardThe largest district in this corner of the state, Duval County, had two contested school board races.
Read more »
Revised data shows US economy shrank slower than expected during 2nd quarterThe revised U.S. Bureau of Economic Analysis data shows that the gross domestic product — the broadest gauge of the economy shrank at an annual rate of 0.6% from April through June.
Read more »
2 years after Kenosha police shooting of Jacob Blake, uncle sues sheriff over excessive force2 years after the Jacob Blake shooting, the man's uncle has sued the Kenosha County sheriff over excessive force.
Read more »
San Antonio cinema chain Santikos to bring art films once destined for closed Bijou to its other theatersThe Bijou closed in April after spending 35 years as the Alamo City's primary arthouse cinema. SanAntonio SATX SanAntonioTX SanAntonioMovies cinema ThingsToDoInSanAntonio
Read more »