WASHINGTON (Reuters) – US consumer spending rebounded in the largest amount on record in May, but earnings are unlikely to be sustainable as revenue will decline and is expected to further decrease as Millions lose their unemployment checks starting next month. The surge in spending reported by the Commerce Department …
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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 …
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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 …
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