10/27/2022, 3:52 PM (Source: TeleTrader)
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GDP data proves US economy recovering - Biden

United States President Joe Biden stated on Thursday that despite recession claims, the latest reading of the country's gross domestic product indicated that the economy is recovering.

"Today's data shows that in the third quarter, Americans' incomes were up and price increases in the economy came down," the country's 46th president stressed, adding that the administration has helped create 10 million jobs, bring the unemployment rate to the five-decade low, and push the manufacturing sector to "boom."

The administration's top challenge remains to reduce inflation in the country, Biden said, emphasizing that progress is evident with declining gasoline prices that today stand at $3.39 a gallon. "That is progress, but we need to do more to bring other prices down as well," the president underlined.

Baha Breaking News (BBN) / AB