Tag: US economy

The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers are still spending, businesses keep posting profits and the economy keeps adding hundreds of thousands of jobs each month.

The U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought, the Commerce Department said Wednesday. But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus.

The Biden administration is relying on infrastructure dollars to help fix the clogged ports and blanket the nation with internet access — but a series of initiatives rolled out on Tuesday show that the urgent pace might not be fast enough to address the immediate needs of an economy coping with a supply chain squeeze and a shift to remote work.

President Donald Trump said Tuesday he is hoping the United States will be reopened by Easter as he weighs how to relax nationwide