Recessions and depressions

A shopper in a face mask looks over cuts of beef piled up in a cold room for purchase at a Costco warehouse store Tuesday, May 5, 2020, in west Denver. The U.S. economy rebounded at an even-stronger pace in the July-September quarter than first reported but a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some analysts even raising the specter of a double-dip recession. (AP Photo/David Zalubowski)
SKY News
November 25, 2020 - 10:51 am
WASHINGTON (AP) — The second of three estimates on U.S. growth for the July-September quarter was unchanged at a record pace of 33.1%. But a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some economists even raising the specter of a double-dip...
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The White House is seen in Washington, early Tuesday, Oct. 6, 2020, the morning after President Donald Trump returned from the hospital where he was treated for COVID-19. Traffic moves along K Street NW as TV crews set up in Black Lives Matter Plaza. (AP Photo/J. Scott Applewhite)
SKY News
October 06, 2020 - 10:51 pm
WASHINGTON (AP) — President Donald Trump on Tuesday called an abrupt end to negotiations with Democrats over additional COVID-19 relief, delaying action until after the election despite ominous warnings from his own Federal Reserve chairman about the deteriorating conditions in the economy. Trump...
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FILE - In this Aug. 11, 2020 file photo, shoppers walk through the Valley Mall in Halfway, Md. U.S. consumer confidence fell for second straight month in August as a resurgence of virus cases in many parts of the country heightened pessimism about the economy. (Colleen McGrath/The Herald-Mail via AP, File)
SKY News
August 28, 2020 - 10:32 am
WASHINGTON (AP) — U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless. The July gain marked the third straight monthly increase in...
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A man walks past an electronic stock board showing money exchange rates at a securities firm in Tokyo on May 29, 2020. Stocks were mixed in Asia on Wednesday, Aug. 19, 2020, after the S&P 500 logged a fresh all-time high. (AP Photo/Eugene Hoshiko)
August 18, 2020 - 11:44 pm
Stocks were mixed in Asia on Wednesday after the S&P 500 logged a fresh all-time high. Japan’s Nikkei 225 index edged higher after the country reported its exports fell 19% in July from a year earlier. Markets in Hong Kong were closed due to a tropical storm. The data was an improvement over a...
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FILE - In this Friday, May 22, 2020, file photo, a sold sign sits in front of a house in Brighton, N.Y. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/Ted Shaffrey, File)
SKY News
August 14, 2020 - 3:07 am
NEW YORK (AP) — A renter most of his adult life, Clarence Swann became fearful that landlords would use the coronavirus pandemic as an excuse to gouge their tenants. So, with a desire to move near family, the retired veteran bought his first home last month at the age of 74. Swann said he used his...
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FILE - In this July 9, 2020, file photo, a large video display reads "Now hiring for our new hotel coming soon!," at the new Emerald Queen Casino, which is open, and owned by the Puyallup Tribe of Indians, in Tacoma, Wash. The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus has weakened hiring and the economic rebound. (AP Photo/Ted S. Warren, File)
SKY News
August 07, 2020 - 6:55 pm
WASHINGTON (AP) — U.S. hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs Friday that the economic damage from the pandemic could last far longer than many observers originally envisioned. The United States added 1.8 million jobs in July, a...
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FILE - In this Feb. 5, 2019, file photo, Alaska Airlines planes are parked at a gate area at Seattle-Tacoma International Airport in Seattle. Alaska Airlines said over 300 employees among the company's workforce in Anchorage may lose their jobs on Oct. 1, 2020. The company said the Anchorage layoffs are part of company-wide job cuts because of the economic fallout from the coronavirus pandemic, Alaska Public Media reported Tuesday, Aug. 4. (AP Photo/Ted S. Warren, File)
SKY News
August 06, 2020 - 8:43 am
WASHINGTON (AP) — Nearly 1.2 million laid-off Americans applied for state unemployment benefits last week, evidence that the coronavirus keeps forcing companies to slash jobs just as a critical $600 weekly federal jobless payment has expired. The Labor Department’s report Thursday marked the 20th...
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FILE - In this Wednesday, May 13, 2020 file photo, Ford Motor Co. employees work a ventilator at the Rawsonville plant in Ypsilanti Township, Mich. The plant was converted into a ventilator factory, as hospitals battling the coronavirus report shortages of the life-saving devices. According to the Institute for Supply Management, U.S. manufacturing rebounded in June 2020 as major parts of the country opened back up, ending three months of contraction in the sector caused by the coronavirus pandemic. (AP Photo/Carlos Osorio)
SKY News
August 03, 2020 - 10:12 am
WASHINGTON (AP) — U.S. manufacturing improved again in July with a key gauge of activity rising for a second straight month. The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose to 54.2 last month, up from a June reading of 52.6...
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FILE - In this June 17, 2020 file photo, a sign advertises a sale at an H&M store along Lincoln Road Mall in Miami Beach, Fla. U.S. consumer confidence had a sharp drop in July to a reading of 92.6 as coronavirus cases in many parts of the country began rising again. (AP Photo/Lynne Sladky, File
SKY News
July 31, 2020 - 9:45 am
WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus' resurgence in much of the country could impede further gains. Last month’s...
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FILE - In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. Americans stepped up their home purchases in June, clawing back some of the losses after the pandemic had caused sales to crater in the prior three months. (AP Photo/Elaine Thompson, File)
SKY News
July 22, 2020 - 10:27 am
BALTIMORE (AP) — Americans stepped up their home purchases in June by a robust 20.7% after the pandemic had caused sales to crater in the prior three months. But the housing market could struggle to rebound further in the face of the resurgent viral outbreak and a shrinking supply of homes for sale...
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