May 2020

The lower GDP revision in the first quarter reflected lower investment by businesses in their inventories, which was partially offset by slightly higher consumer spending. Economists believe the lockdowns that have shut down large swathes…

WASHINGTON (AP) - The US economy has contracted at an even faster rate than initially estimated in the first three months of this year, with economists continuing to expect a much worse result in the current quarter from April to June.The…

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) - The US economy has contracted at an even faster rate than initially estimated in the first three months of this year, with economists continuing to expect a much worse result in…