U.S. consumer spending rises for second straight month, income drops further

U.S. consumer spending increased for the second straight month in June, setting up consumption for a rebound in the third quarter, though the recovery could be limited by a resurgence in Covid-19 cases and the end of expanded unemployment benefits.

Read more: https://www.cnbc.com/2020/07/31/personal-income-and-spending-june-2020.html

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

Neither the Great Depression nor the Great Recession nor any other slump over the past two centuries have ever caused such a sharp drain on the economy.

Read more: https://www.cnbc.com/2020/07/30/us-gdp-q2-2020-first-reading.html

U.S. weekly jobless claims rise for a second straight week, total 1.434 million

Jobless claims for last week were roughly in line with expectations as the coronavirus pandemic continues to ravage the U.S. economy.

Read more: https://www.cnbc.com/2020/07/30/weekly-jobless-claims.html

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