President Biden takes a victory lap during a Virginia speech after the latest data shows the U.S. economy is still growing despite fears of recession. It comes as the White House and House Republicans are at odds over the debt ceiling and budget cuts. » Subscribe to MSNBC: Follow MSNBC Show Blogs MaddowBlog: ReidOut Blog: MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, The Beat with Ari Melber, Deadline: White House, The ReidOut, All In, Last Word, 11th Hour, and Alex Wagner who brings her breadth of reporting experience to MSNBC primetime. Watch “Alex Wagner Tonight” Tuesday through Friday at 9pm Eastern. Connect with MSNBC Online Visit msnbc.com: Subscribe to the MSNBC Daily Newsletter: MSNBC.com/NewslettersYouTube Find MSNBC on Facebook: Follow MSNBC on Twitter: Follow MSNBC on Instagram: #msnbc #economy #recession...(read more)
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Despite concerns over a looming recession, the latest economic data shows that the U.S. economy continues to grow at a steady pace. According to the latest figures from the Bureau of Economic Analysis, the U.S. economy grew at an annual rate of 2.1% in the second quarter of 2019. This is slightly slower than the 3.1% growth rate in the first quarter, but it still represents a healthy expansion. The growth was driven by consumer spending, which accounts for roughly two-thirds of the U.S. economy. Personal consumption expenditures increased by 4.3% in the second quarter, up from 1.1% in the first quarter. This suggests that consumers remain confident and are continuing to spend, despite concerns over trade tensions, slowing global growth, and a potential recession. Additionally, the labor market remains strong. The unemployment rate remains near historic lows at 3.7%, and wages are gradually rising. This is helping to support consumer spending and provide further stimulus to the economy. However, there are some signs of weakness in other areas. Business investment, for example, declined by 0.6% in the second quarter, marking the third straight quarter of contraction. This is likely due to the uncertainty surrounding the trade war between the U.S. and China, which has dampened business confidence and led to delays in investment decisions. Furthermore, the manufacturing sector is showing signs of weakness. The Institute for Supply Management’s manufacturing index fell to its lowest level in nearly three years in July, indicating a slowdown in manufacturing activity. While the U.S. economy is still growing, there are some indicators that suggest caution may be warranted. The trade war with China is not showing any signs of resolution, and the global economy is slowing. Additionally, the U.S. is now in the longest economic expansion in its history, meaning that a downturn could be on the horizon. Despite these concerns, the current economic data suggests that the U.S. economy is still in a relatively strong position. With consumer spending remaining robust and the labor market continuing to provide support, there is reason to remain optimistic. However, the future trajectory of the economy will depend on a number of external factors, including the outcome of the trade war and the health of the global economy. https://inflationprotection.org/amid-recession-fears-the-u-s-economy-experiences-growth/?feed_id=87459&_unique_id=64383ecd137c5 #Inflation #Retirement #GoldIRA #Wealth #Investing #StephanieRuhle #RecessionNews #StephanieRuhle
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