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The Latest Breaking News from Recession

US economy shrinks for a second quarter, fueling recession fears

The drumbeat of recession grew louder after the U.S. economy shrank for a second straight quarter, as decades-high inflation undercut consumer spending and Federal Reserve interest rate hikes stymied businesses and housing.

Tribune News Service

US economy contracts in second quarter, deepening recession fears

Washington (AFP) - The US economy contracted for a second straight quarter between April and June, government data showed Thursday, fueling recession fears just months before key midterm elections in a blow for President Joe Biden.

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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Yellen insists US not in recession as economy shrank 0.9 per cent in second quarter

Two negative quarters meets the informal definition of recession but many economists disagree

The Independent UK

US Economy Shrinks Again, Down 0.9% in Q2, Igniting New Recession Debate

The U.S. economy contracted by a much-worse-than-expected 0.9% over the three months ending in June, marking the second consecutive quarterly decline.

The Street

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

U.S. economy shrinks for second straight quarter, igniting recession fears

It's not officially a recession yet, but the data shows the economy is on shakier footing as growth slows.

Axios

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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

Conservative leadership: Pragmatic Prime Minister is needed to navigate recession

City Voices: Candidates for PM must drop dogmatic approach to tax

Evening Standard

Powell: No recession right now, but anything's possible

Closely watched economic figures come out this morning.

Axios

Top economist David McWilliams sounds 'creeping' recession warning for Ireland

Finance guru Eddie Hobbs previously warned a 'firestorm' recession in autumn is 'likely'

Irish Mirror

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

Riyadh, Paris Keen on Strengthening Strategic Partnership

Amid fears that European economies would face a recession as a result of the Russian-Ukrainian war, economists expected that the Saudi-French talks would enhance strategic partnerships that will help stabilize global energy and oil markets, and reduce the challenges facing food supply chains. Dr.

Asharq Al-Awsat

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The Independent UK

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

Australia forecasts high inflation for another 2 years

New forecasts by Australia’s government say runaway inflation will remain unacceptably high for the next two years and economic growth will slow without falling into recession

AFP

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.

Dublin Live

Recession Ireland: Top economist warns 'creeping' recession will hit Ireland

There are many indicators that the country is headed for a recession

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The Independent UK

US not yet in recession and 4 other takeaways from the Fed

Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs

ABC News

Treasurer warns Australians to brace for pain to escape recession in confronting economic statement to parliament

Forecasting a peak in inflation to 7.75 per cent by the year's end, the Treasurer says Australians must brace to take some "tough medicine" if the nation is to escape a recession.

The Conversation

A hawkish Fed signals further rate hikes and sees a slowing economy – but not recession

The U.S. Federal Reserve hiked its benchmark interest rate by a further three-quarters of a percentage point on July 27, 2022.

The Guardian - AU

Morning mail: challenges ahead amid soaring inflation, US lifts interest rate, farewell to Ramsay Street

Thursday: Treasurer trims economic growth prediction amid warnings the world is ‘on the edge’ of global recession. Plus: a deep dive into colonic irrigation clinics

StockNews.com

Should You Buy These 2 Stocks on the Dip?

Investors’ concerns over the Fed’s hawkish stance to lessen the inflationary pressure and rising odds of the economy tipping into a recession have kept the stock market highly volatile of late. While the market downturn creates attractive buying opportunities, avoiding fundamentally weak stocks, The Walt Disney (DIS) and Sea (SE)…

StockNews.com

3 Stocks to Help You Make Passive Income in 2022

Concerns over the Fed’s aggressive interest rate hikes and growing odds of the economy sliding into a recession are expected to keep the stock market highly volatile in the upcoming months. Amid these volatile market conditions, it could be wise to invest in high dividend-yielding stocks Texas Instruments (TXN), Visa…

AFP

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

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

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