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US revises up last quarter’s economic growth to 2.9% rate

WASHINGTON ((DailyNews)) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the...

US economy likely returned to growth last quarter

WASHINGTON ((DailyNews)) — The problems have hardly gone away. Inflation, still near a 40-year high, is punishing households. Rising interest rates have derailed the...

Asia shares rise as Wall Street on track to end loss streak

TOKYO ((DailyNews)) — Asian benchmarks mostly rose Thursday, as investor optimism got a perk from a rally on Wall Street that’s on track to...

US economy shrinks for a 2nd quarter, raising recession fear

WASHINGTON ((DailyNews)) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising...

EXPLAINER: How do we know when a recession has begun?

WASHINGTON ((DailyNews)) — By one common definition, the U.S. economy is on the cusp of a recession. Yet that definition isn’t the one that...

Biden fights talk of recession as key economic report looms

Facing a potentially grim report this week on the economy’s overall health, President Joe Biden wants to convince a skeptical public that the U.S....

US economy shrank by 1.5% in Q1 but consumers kept spending

WASHINGTON ((DailyNews)) — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a...

US economy shrinks, threats loom, but growth likely to last

WASHINGTON ((DailyNews)) — The U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest...

Drop in US GDP challenges Biden’s pitch to voters

WASHINGTON ((DailyNews)) — President Joe Biden’s upbeat message that the economy is cruising along hit a troublesome speed bump on Thursday when the federal...

US growth in Q4 revised lower to 6.9%, slower growth to come

WASHINGTON ((DailyNews)) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported...

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