Americans spent more money on cars, health care and eating out last month than they did in June. The Commerce Department says consumer spending rose 1.9% in July. Consumer spending is a major driver of the U.S. economy, and it continues to recover from its pandemic plunge this spring. July marked the third consecutive increase in monthly spending, though the gains were smaller than in May […]
Fades
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US GDP Collapses And Economic Rebound Fades August 4, 2020 US GDP Collapses And Economic Rebound Fades2020-08-042020-08-04https://popularresistance-uploads.s3.amazonaws.com/uploads/2017/12/popres-shorter.pngPopularResistance.Orghttps://popularresistance-uploads.s3.amazonaws.com/uploads/2020/08/landt-e1596569763396.jpg200px200px Above photo: The Boston Lord & Taylor store placed Store Closing Sale signs in its windows as it declares bankruptcy. Michael Lisicky/JDB. This past week US economy collapsed in the 2nd quarter by 32.9% at annual rate and nearly 10% just for the April-June period. Never before in modern US […]