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Breakingviews – Breakingviews: U.S. growth is eroding from the bottom up
The United States has entered a maybe-recession. The 0.9% annualized fall in second-quarter GDP shows that a slowdown is happening. Other data show resiliency, which probably keeps the official label applied to a prolonged, widespread economic decline at bay. Drill down, though, and the generous spending of top earners is hiding the stress facing lower-income Americans.

Breakingviews – Breakingviews: U.S. growth is eroding from the bottom up

The United States has entered a maybe-recession. The 0.9% annualized fall in second-quarter GDP shows that a slowdown is happening. Other data show resiliency, which probably keeps the official label applied to a prolonged, widespread economic decline at bay. Drill down, though, and the generous spending of top earners is hiding the stress facing lower-income Americans.