Britain’s economy shrank by a record-breaking 9.9% in 2020, new figures by the Office of National Statistics show, highlighting the impact of Covid-19 restrictions, employment uncertainty and reduced demand, with limited growth in the final quarter narrowly avoiding a double-dip recession. The Office for National Statistics said Friday that the U.K.’s economic output fell by […]
In a sluggish economy or an outright recession, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to […]
Congress is scrambling to piece together another relief package before the end of the year that would, if some legislators have their say, include a second economic stimulus check for individuals and families who meet the requirements. Sen. Bernie Sanders, an independent, and Sen. Josh Hawley, a Republican, are looking to modify a $908 billion […]
While unemployment has remained stubbornly above pre-pandemic levels, record highs in the stock market have pushed the net worth of all households in the U.S. to a new high, despite the fast growth in household debt. The net worth of households in the United States climbed to $123.5 trillion in the third quarter, up 8% […]
U.S. gross domestic product—a measure of the value of all the goods and services produced by the economy—declined 4.8% in the first three months of 2020, according to data released by the Commerce Department; this is the worst quarterly decline in a decade, but experts agree that the numbers haven’t even begun to reflect the […]