US economy shrinks again sparking recession fears
The US economy contracted at an annual rate of 0.9% in the three months to July. …
“If you look at our job market, consumer spending, business investment – we see signs of economic progress,” Mr Biden said Thursday, noting the historic post-pandemic gains the US experienced last year. “There’s no doubt we expect growth to be slower than last year …. That’s consistent with a transition to stable, steady growth and lower inflation.”
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