Reported 27 days ago
Recent economic data reveals a troubling trend for the US economy, with weakened consumer spending and a faltering job market. A significant revision of employment numbers shows nearly 260,000 fewer jobs than previously thought, raising concerns about the economy's stability. Moreover, inflation-adjusted consumer spending has declined in the first half of the year, exacerbated by ongoing economic policy changes and heightened uncertainty among businesses and consumers alike. As firms face rising costs and a more cautious consumer base, forecasts suggest a slowdown in economic growth, with the economy expected to expand by only 1.5% this year.
Source: YAHOO