(Add report details) By Lucia Mutikani WASHINGTON, June 26 (Reuters) – US consumer spending rebounded by the largest amount on record in May, but earnings are unlikely to be sustainable as revenue will decline and is expected to decline further. more as millions lose their unemployment checks starting next month. …
Read More »
WASHINGTON (Reuters) – Weak demand is forcing American employers to lay off workers, keeping new claims for unemployment benefits extraordinarily high, even when companies have reopened, confirming views that the job market could take years to recover from the COVID-19 pandemic. FILE PHOTO: People line up in front of a …
Read More »
WASHINGTON (Reuters) – The coronavirus pandemic has caused more extensive and profound damage to economic activity than previously thought, the International Monetary Fund said Wednesday, prompting the institution to further cut its global output forecasts by 2020. The IMF said it now expects 2020 global output to shrink by 4.9%, …
Read More »
WASHINGTON (Reuters) – Sales of new single-family homes in the United States increased more than expected in May and business activity contracted moderately this month, suggesting that the economy was on the verge of recovering from the recession caused by the crisis in COVID-19. FILE PHOTO: Real estate signs advertise …
Read More »