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Martin Crutsinger

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U.S. CONSUMER SPENDING declined a record 13.6% in April. / AP FILE PHOTO/JEFF ROBERSON

U.S. consumer spending sinks by record 13.6% in face of virus

WASHINGTON (AP) – United States consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs...

U.S. economy shrank at 5% annual rate in Q1

WASHINGTON (AP) – The United States economy shrank at an even faster pace than initially estimated in the first three months of this year...
ROUGHLY 2.4 million people applied for U.S. unemployment benefits last week. / AP FILE PHOTO/PAUL SANCYA

Nearly 39 million have sought U.S. jobless aid since virus hit

WASHINGTON (AP) – More than 2.4 million people applied for U.S. unemployment benefits last week in the latest wave of layoffs from the viral...
FEDERAL RESERVE Chariman Jerome Powell said that the Fed's lending programs for medium-sized businesses and state and local governments would begin operating by June 1. / AP FILE PHOTO/JACQUELYN MARTIN

Fed’s Powell says new lending programs to launch by June 1

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that the Fed's lending programs for medium-sized businesses and state and local governments would...
U.S. WHOLESALE prices declined 1.3% in April. /AP FILE PHOTO/JONATHAN GRUENKE/THE VIRGINIAN PILOT

U.S. wholesale prices drop record 1.3% in April

WASHINGTON (AP) – Wholesale prices slid a record 1.3% in April led by a 19% plunge in the cost of energy, further signaling the...
U.S. CONSUMER spending declined 7.5% in March, the sharpest drop on record. / AP FILE PHOTO/MARK HUMPHREY

U.S. consumer spending plunges record 7.5%, reflecting virus

WASHINGTON (AP) – United States consumer spending plunged 7.5% in March, reflecting the growing impact of the coronavirus pandemic as Americans complied with stay-at-home...
U.S. GDP declined at a 4.8% annual rate in the first quarter and the CBO projects an annualized decline of 40% in the second quarter due to COVID-19 related shutdowns. / AP FILE PHOTO DAVE KOLPACK

U.S. economy shrank at 4.8% rate last quarter as virus struck

WASHINGTON (AP) – The United States economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the...

Consumer confidence plunges in April as millions lose jobs

WASHINGTON (AP) – United States consumer confidence plunged in April as millions lost their jobs, with an index that monitors attitudes about current business...
THE IMF has projected that the global economy will have its wrots years since the Great Depression. Above, the banking district of Frankfurt, Germany. / AP FILE PHOTO/MICHAEL PROBST

IMF: Global economy will suffer worst year since Depression

WASHINGTON (AP) – Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of...
THE FEDERAL RESERVE announced that it is activating up to $2.3 trillion in loans to support American households and businesses, as well as local governments . Above, Federal Reserve Chairman Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN

Fed announces $2.3 trillion in additional lending

WASHINGTON (AP) – The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support American households and businesses,...
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