Tag: quarter
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U.S. economy grew 2.6% in 3rd quarter: Commerce Department
The U.S. economy grew in the third quarter of this year due to trade fluctuations, new home construction and consumer and government spending, the Commerce Department said Thursday in the final major economic report before the midterm elections. The Bureau of Economic Analysis said the gross domestic product increased 2.6% in July, August and September,…
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Economy shrinks for second consecutive quarter as Biden mocks recession ‘chatter’
The U.S. economy shrank for the second straight quarter, but President Biden dismissed concerns of a recession Thursday as “chatter” and plowed ahead with plans for a tax increase and another huge boost in spending over the objections of Republicans, who say those policies have sparked historic inflation and reversed growth. Addressing the nation from…