Both Japan and the United Kingdom said Thursday their economies likely weakened during the final three months of 2023. For each, it would be the second straight quarter that's happened, which fits one lay definition for a recession.
Yet in the United States, the economy motored ahead in last year's fourth quarter for a sixth straight quarter of growth. It's blown past many predictions coming into last year that a recession seemed inevitable because of high-interest rates meant to slow the economy and inflation.
Give much of the credit to U.S. households, who have continued to spend at a solid rate despite many challenges. Their spending makes up the majority of the U.S. economy. Government stimulus helped households weather the initial stages of the pandemic and a jump in inflation, and now pay raises are helping them catch up to high prices for the goods and services they need.
On Thursday, a report showed that fewer U.S. workers filed for unemployment benefits last week. It's the latest signal of a remarkably solid job market, even though a litany of layoff announcements have grabbed attention recently. Continued strength there should help prop up the economy.
Of course, risks still loom, and economists say a recession can't be ruled out. Inflation could reaccelerate. Worries about heavy borrowing by the U.S. government could upset financial markets, ultimately making loans to buy cars and other things more expensive. Growing losses tied to commercial real estate could mean big pain for the financial system.
But, for now, the outlook continues to appear better for the United States than many other big economies. The mood on Wall Street is so positive that the main measure of the U.S. stock market, the S&P 500 index, topped the 5,000 level last week for the first time.
Bu hikaye Scoop USA Newspaper dergisinin ScoopDigital, Vol 5, No. 2 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Scoop USA Newspaper dergisinin ScoopDigital, Vol 5, No. 2 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Evans: Much of GOP Agenda is Unpopular and We'll Fight It
He doesn't think people voted for higher prices or denial of healthcare.
How to root out Trumpism
So many of you have asked me how one of the most loathsome people in America was just reelected president that I thought you might find it helpful if I shared with you some personal history.
Kraft Heinz stops serving school-designed Lunchables because of low demand
At the time, Kraft Heinz said the offerings were protein-enriched and contained reduced levels of saturated fat and levels of saturated fat and sodium to meet the requirements of the national free and reduced-price school lunch program.
Independence Blue Cross invites members to join free in-person and virtual events to learn more about Medicare
Independence Blue Cross (IBX) is holding free events and online webinars to help existing members learn more about Medicare.
In honor of Veterans Day and our troops "God's Military Force"
Since the beginning of time, whenever man established a nation, country, or kingdom, he also developed a Military Force to protect that kingdom from enemies and, if necessary, back that Government in enforcing its law.
Phila. Water Dept.highlights conservation tips under drought watch
The Philadelphia Water Department supports the Pennsylvania Department of Environmental Protection’s (PADEP) call for reduced water use by residents in Philadelphia and 35 additional counties.
SEPTA announces major fare increase proposal for Jan.1
With no prospect of a statewide solution to help fund the everyday operating expenses of public transportation systems, SEPTA announced a new fare increase proposal that would see rates jump by more than 20% across all modes and methods of payment.
At an art festival in Dakar, artists from both sides of the Atlantic examine the legacy of slavery
A whirlwind of color and art at the opening of this year's Dakar Biennale of Contemporary African Art in the Senegalese capital stood in stark contrast to the serious topic of slavery featuring in the artworks of guest artists from the United States.
The torch is passed: from MAGA throwbacks to America's future
Joe Biden didn't just pass the torch to another generation. He passed it from white MAGA men to America's future.
Blood tests for Alzheimer's may be coming to your doctor's office. Here's what to know
New blood tests could help doctors diagnose Alzheimer's disease faster and more accurately, researchers reported Sunday but some appear to work far better than others.
