Gross domestic product fell at a 0.9% annualized rate after a 1.6% decline in the first three months of the year, the Commerce Department’s preliminary estimate showed Thursday. Personal consumption, the biggest part of the economy, rose at a 1% pace, a deceleration from the prior period.
The report will add to political headaches for President Joe Biden and complicate the Fed’s calculus over how aggressively to raise interest rates. A key gauge of underlying demand that strips out the trade and inventories components — inflation-adjusted final sales to domestic purchasers — fell at a 0.3% pace in the second quarter compared with a 2% gain in the prior period.
, have announced plans in recent weeks to cut workers. Others, like Apple Inc. and Microsoft Corp. are slowing hiring.Broader weakness in a labor market that’s shown only limited signs of cooling would remove a key source of support for the economy and help shape the course of monetary policy later this year.
الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Oil hardly changed steady as demand worries counter fall in US stocksConcern about weaker demand offset industry data that showed a larger-than-expected decrease in US crude stockpiles
مصدر: BDliveSA - 🏆 12. / 63 اقرأ أكثر »
مصدر: dailymaverick - 🏆 3. / 84 اقرأ أكثر »