U.S. economy shrank 3.5 percent in 2020 after growing 4 percent last quarter
Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4 percent annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.
3rd court blocks Trump’s order on congressional seat count
A panel of three judges on Friday ruled that President Donald Trump's effort to exclude people in the country illegally from the numbers used for dividing up congressional seats is unlawful.
U.S. economy grew at 33 percent rate in third quarter, but recovery is incomplete
The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses…
U.S. GDP fell at 5.0% rate in first quarter, but worse is expected to come
The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic.
In an effort to cut off Huawei’s undermining of existing U.S. sanctions, the U.S. government is imposing new resctrictions on the Chinese tech giant by limiting its ability to use American technology to build its semiconductors.
The Commerce Department said Tuesday that the September gap between what America buys from abroad and what it sells shrank by 4.7% to $52.5 billion.
Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.
The new estimate was lower than the government's initial estimate a month ago of 2.1% annual growth.
The nation's gross domestic product grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce Department estimates.
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