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The Latest Breaking News from GDP

Stock Market Gains, Erases Early Losses After Weak GDP; Meta Dives On Earnings Miss

Ford earnings helped boost the stock market in spite of weak GDP numbers and worse-than-expected Facebook earnings.

Investors Business Daily

Wall Street shrugs off US economy contracting

London (AFP) - Wall Street stocks rose on Thursday despite data showing the US economy contracted for a second straight quarter as investors took it as a signal the Federal Reserve may slow interest rate hikes.

AFP

U.S. Economy Tagged With Recession Label As GDP Falls Again; Dow Jones Rallies

The U.S. is in an unofficial recession, after GDP fell for again. Should you trust the recession label? What does it mean for the Dow Jones?

Investors Business Daily

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When does a recession begin – and is the US in one now?

Question weighs on consumers, politicians and investors around the world as the Federal Reserve raises interest rates

The Guardian - US

US economy shrinks in second quarter, signaling unofficial start of recession

The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season

The Guardian - US

Stock Market Today-7/28: Stocks Extend Gains Following GDP Data; Apple Earnings In Focus

GDP data will likely ignite another recession debate, while markets sift through a puzzling Fed rate hike and brace for crucial June quarter earnings from Apple after the close of trading.

The Street

Stocks Lower Ahead of GDP Data, Meta, Spirit, Ford And Apple In Focus - Five Things To Know

Stock futures lower with earnings, GDP data in focus; Meta shares tumble after Q2 earnings miss, muted ad outlook; Spirit soars after cancelling frontier deal, setting up JetBlue takeover; Ford shares leap after solid Q2 earnings, outlook hold and Apple earnings on deck amid demand, chip, China impact questions.

The Street

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U.S. economy just had a 2nd quarter of negative growth. Is it in a recession?

GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition. Parts of the economy are clearly struggling.

WEKU

US economy likely grew modestly, if at all, last quarter

After going backward from January through March, the U.S. economy probably didn’t do much better in the spring

The Independent UK

US GDP data due with all eyes on possible recession

Washington (AFP) - The United States is set to release key data on economic growth Thursday and global investors are watching closely as the world's largest economy flirts with recession -- while President Joe Biden walks a political tightrope.

AFP

Dow Jones Futures Fall On 'Day 2' After Market Rallies Strongly On Powell Hints Of Slower Fed Rate Hikes

Stocks rallied strongly Wednesday after Fed chief Jerome Powell hinted at slower Fed rate hikes. Watch out for day 2 reactions

Investors Business Daily

In US, even the definition of 'recession' is controversial

Washington (AFP) - In Washington circles, saying the "R" word comes with a bit of risk.

AFP

Report: Federal debt lower in 2022; still poised to climb

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast

The Independent UK

US economy seen narrowly averting back-to-back contractions

The U.S. economy may have eked out modest growth in the second quarter, skirting back-to-back quarterly contractions, but rising at a tepid enough pace to feed concerns of an eventual downturn.

Tribune News Service

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The Conversation

How costly political realities undercut Ghana's electricity reforms

Ghana reformed its electricity sector by the book but has lurched from blackouts between 2012 and 2015 to a glut of energy which costs government about 5% of GDP. Fitch ranks the energy sector as the biggest driver of national debt. How did this happen? It’s a classic case of…

Asharq Al-Awsat

IMF Raises Saudi Economic Growth Forecasts

The International Monetary Fund (IMF) has raised its 2023 growth forecasts for Saudi Arabia’s economy by 0.1% from April to 3.7%. It maintained its projections for the Kingdom’s economic growth during 2022 at 7.6% compared to 4.4% in January. This was revealed Tuesday in its World Economic Outlook report for…

The Hindu

Whose GDP is it anyway?

It is time for political leaders to clamour for an overhaul of India’s economic performance measurement framework

The Independent UK

EXPLAINER: How do we know when a recession has begun?

By one common definition, the U.S. economy is on the cusp of a recession

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Asharq Al-Awsat

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Axios

Five key things to know about the "is this a recession" controversy

It's hard to recall a White House deploying as much effort to pre-spin economic data.

Reuters

Spain raises inflation forecast for 2022, lowers GDP growth target for 2023

Spain raised its inflation forecasts for 2022 and 2023 and lowered its economic growth target for 2023, Economy Minister Nadia Calvino said on Tuesday, citing the war in Ukraine for its continued negative impact on European economies.

The Independent UK

Biden fights talk of recession as key economic report looms

President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession

Axios

Biden's juggling act: Recession optimism could backfire

"I don't think, God willing, we're going to see a recession," Biden said Monday. "I'll be surprised."

The New Daily

Tech company earnings, US GDP and Australian inflation to dominate markets this week

US mega tech companies Microsoft, Google, Meta, Apple and Amazon all report earnings this week. It's one of five big stories influencing global markets.

Benzinga

Elon Musk Denies Affair With Google Co-Founder Sergey Brin's Wife, Putin Health Rumors, Monkey Pox Global Emergency And More: Key Stories You May Have Missed From This Weekend

The unfolding week is likely to test the nerves of investors, as they get to digest major market-moving catalysts, both on the economic and corporate fronts. A Fed meeting, second-quarter U.S. GDP data, and big tech earnings, all make things interesting. Ahead of the news-heavy week, here's a recap of…

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