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The Latest Breaking News from Recession

Why is it so hard to say if this is a recession?

Economists were on high alert Thursday morning awaiting data from the U.S. Commerce Department that might shed light on whether the country is in a recession — a question with vast implications for consumers, employers and electoral politics.

Los Angeles Times

New York City Mayor Eric Adams contradicts Biden’s optimism about economy: ‘We are in a recession’

President Joe Biden denied the US was in a recession on Thursday after the economy shrank for a second quarter in a row

The Independent UK

3 No-Brainer Growth Stocks You Should Buy Without Hesitation

The stock market’s downturn due to persistent macroeconomic headwinds and a potential recession has created an excellent opportunity to buy fundamentally strong stocks at reasonable prices. While the market is expected to remain under pressure in the coming months, one could invest in quality growth stocks Albertsons Companies (ACI), Celestica…

StockNews.com

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Buy These 3 Monster Growth Stocks Before It’s Too Late

Amid sky-high inflation and consecutive rate hikes, U.S. GDP witnessed another consecutive decline in the second quarter. However, investors seem to have shaken off recession fears causing U.S. equities to rally. Thus, we think quality growth stocks, Core Molding (CMT), Civeo (CVEO), and Genuine Parts (GPC), could be worth buying…

StockNews.com

Eurozone inflation hits record 8.9% despite better-than-expected growth

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia's war in Ukraine, but the economy still managed better-than-expected, if meager, growth in the second quarter.

France 24

Dogecoin Daily: Price Intact Despite Talk Of Recession, What Co-Founder Has To Say

Dogecoin (CRYPTO: DOGE) traded 2.6% higher at $0.07 over 24 hours leading up to early Friday morning DOGE traded higher alongside other major coins as the global cryptocurrency market cap rose 4.2% to $1.1 trillion.

Benzinga

Inflation Hits Record 8.9% in 19 Countries Using the Euro

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine, but the economy still managed some meager growth. Annual inflation in the eurozone’s 19 countries rose to 8.9% in July, an increase…

Asharq Al-Awsat

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Irish celebs not worried about looming recession - from Suzanne Jackson's boat to Vogue's many properties

Some Irish celebs are spending most of the summer in Portugal

Dublin Live

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

The Guardian - UK

Recession? Here's What Analysts Expect For Bitcoin, Ethereum, Dogecoin

A rally in major coins remained intact on Thursday evening as the global cryptocurrency market cap rose 3.8% to $1.09 trillion at press time.

Benzinga

Here’s why the US economy shrinking in the 2nd quarter may not be so bad

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

Los Angeles Times

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

Reason

What Was the Great Recession? How Did It Affect the World?

What Was the Great Recession? How Long Did It Last? The most severe economic downturn since World War II occurred between December 2007 and June 2009. During this period, hundreds of banks failed, millions of homes went into foreclosure, and Americans lost over $14 trillion in net worth. ...

The Street

America tips into unofficial recession as global markets hold breath

Second successive drop as growth retreats 0.9% in the three months to June

Evening Standard

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The Guardian - US

Biden hails ‘most significant legislation to tackle climate crisis’ after Manchin says yes – as it happened

President lauds ‘huge step forward’ for his domestic agenda after deal between Manchin and congressional Democrats

Tribune News Service

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.

Investors Business Daily

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?

The Independent UK

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

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The Street

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 Guardian - US

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

Axios

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.

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 Street

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.

Evening Standard

Conservative leadership: Pragmatic Prime Minister is needed to navigate recession

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

Axios

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

Closely watched economic figures come out this morning.

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Dipanjan BanchurSince

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