G.D.P. Report Expected to Show Little Growth, Belying a Resilient Economy
The figure is expected to look weak because inventories needed less rebuilding, and consumer spending widened the trade deficit.
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The figure is expected to look weak because inventories needed less rebuilding, and consumer spending widened the trade deficit.
The U.S. economy shrank by 0.4% in the first quarter of 2022 — 1.4% on an annualized basis.
The administration emphasized strength in consumer spending, even as Republicans blasted its management of the economy.
<p><span>Secretary of the Treasury Janet L. Yellen delivered remarks at the Brooking’s Hamilton and Hutchins Center event Recession Remedies: Lessons Learned from the US Economic Policy Response to COVID-19.</span></p>
In a Gallup poll, 46 percent rated their personal finances positively, down from 57 percent last year. About half said gasoline prices were causing hardship.