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27 April 2024
U.S. Economy
Economists Say Recession Started in February
by
CHRISTOPHER S. RUGABER, AP Economics Writer
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Jun 9, 2020
WASHINGTON (AP) — The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record. The economists said that employment, income and...
U.S. Consumer Spending Drops 13.6 Percent
by
MARTIN CRUTSINGER, AP Economics Writer
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May 29, 2020
WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month’s spending decline was...
Consumer Confidence Near Six-Year Low
by
ASSOCIATED PRESS
-
May 26, 2020
WASHINGTON (AP) — U.S. consumer confidence inched up this month, showing signs of stabilizing, but remained near a six-year low in the face of the widespread business shutdowns that have sent the economy into recession. The...
Service Sector Shrinks for First Time in Decade
by
MARTIN CRUTSINGER, AP Economics Writer
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May 5, 2020
WASHINGTON (AP) — The U.S. service sector shrank for the first time in a decade last month as the pandemic forced shutdowns and layoffs nationwide. The Institute for Supply Management said Tuesday that its service-sector index...
Economic Figures Show Grim Toll From Virus
by
ASSOCIATED PRESS
-
May 1, 2020
NEW YORK (AP) — Bleak new figures Thursday underscored the worldwide economic pain inflicted by the coronavirus: The number of Americans filing for unemployment benefits has climbed past a staggering 30 million, while Europe’s economies have...
Fed Likely to Hold Rates Near Zero For While
by
CHRISTOPHER S. RUGABER, AP Economics Writer
-
Apr 29, 2020
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking...
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