7/5, 10:26 PM (Source: TeleTrader)
more TeleTrader news

WH: Recent data shows US is not in recession

White House Press Secretary Karine Jean-Pierre reiterated that the country is not in a recession, citing that recent data indicates that consumer spending and business investment remain "strong" and "above pre-pandemic levels."

According to the press secretary, the country has created over 400,000 new jobs over the past three months, holding a steady rate of unemployment at 3.6%.

Previously, the International Monetary Fund stated that "the path to avoiding a recession in the US is narrowing," with the country's GDP increasing by 1.7% in 2023 and 0.8% in 2024.

Baha Breaking News (BBN) / AB