US teetering on brink of recession as GDP contracts in second quarter

时间:2周前   阅读:9

全球最大的博彩平台www.99cx.vip)是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。全球最大的博彩平台上最新全球最大的博彩平台登录线路、全球最大的博彩平台代理网址更新最快。全球最大的博彩平台开放皇冠官方会员注册、皇冠官方代理开户等业务。

Business and consumer sentiment has soured, while inflation is hurting sales at retailers like Walmart which earlier this week said it needed more price cuts to pare inventories.

WASHINGTON: The U.S. economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising the risk that the economy was on the cusp of a recession.

While the second straight quarterly decline in gross domestic product reported by the Commerce Department on Thursday largely reflected a more moderate pace of inventory accumulation by businesses due to ongoing shortages of motor vehicles, the economic profile was weak, with exports as the only bright spot.

This could deter the Federal Reserve from continuing to aggressively increase interest rates as it battles high inflation. The U.S. central bank on Wednesday raised its policy rate by another three-quarters of a percentage point, bringing the total rate hikes since March to 225 basis points.

"The economy is highly vulnerable to slipping into a recession," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto. "That might discourage the Fed from ramming through another large rate hike in September."

Gross domestic product fell at a 0.9% annualized rate last quarter, the government said in its advance estimate of GDP.

Economists polled by Reuters had forecast GDP would rebound at a 0.5% rate. Estimates ranged from as low as a 2.1% rate of contraction to as high as a 2.0% growth pace. The economy contracted at a 1.6% pace in the first quarter.

,

usdt接口平台www.trc20.vip)是使用TRC-20协议的Usdt第三方支付平台,Usdt收款平台、Usdt自动充提平台。免费提供入金通道、Usdt钱包支付接口、Usdt自动充值接口、Usdt寄售回收。菜宝Usdt钱包一键生成Usdt钱包、一键调用API接口、一键出售Usdt。

,

It shrank 1.3% in the first half, satisfying the definition of a "technical recession." But economists, the Fed and the White House say the economy is not in recession based on broader measures of activity.

The National Bureau of Economic Research, the official arbiter of recessions in the United States defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators."

Job growth averaged 456,700 per month in the first half of the year, while domestic demand continued to grow.

"There is without doubt an underlying slowdown in domestic demand in evidence here," said Brian Coulton, chief economist at Fitch Ratings in New York. "But this number does not signal the early arrival of the inflation and Fed-tightening induced recession that markets have recently been focused on."

The White House sought to calm voters ahead of the Nov. 8 congressional elections that will decide whether President Joe Biden's Democratic Party retains control of the U.S. Congress.

Treasury Secretary Janet Yellen touted the administration's achievements over the last 18 months, including robust employment gains following record job losses at the height of the COVID-19 pandemic, and described the economy as "resilient." Yellen, however, acknowledged that activity was slowing and warned of numerous risks on the horizon.

上一篇:足球博彩公司(www.hg108.vip)_庾澄庆二婚老婆好自信呀,素颜出门不端着穿条纹的衣服

下一篇:皇冠博彩网址:Bursa Malaysia expects at least 37 new listings in 2022

网友评论