Drudge Retort: The Other Side of the News
Thursday, June 26, 2025

The US economy contracted in the beginning of the year at a much faster pace than previously reported, after new data factored in much weaker consumer spending. Gross domestic product, the broadest measure of economic output, registered an annualized rate of -0.5% from January through March, the Commerce Department said Thursday in its third and final estimate. That's worse than the 0.2% decline reported in the second estimate. GDP is adjusted for seasonal swings and inflation. The latest estimate showed that consumer spending " the lifeblood of the US economy " was tepid in the beginning of the year. Spending in the first quarter grew at a rate of just 0.5%, down from 1.2% in an earlier estimate. That's the weakest rate in more than four years.

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A separate report showed that unemployed Americans are having an increasingly harder time finding work. Fresh data released Thursday morning by the Labor Department showed the number of people receiving jobless benefits for at least one week rose by 37,000 to 1.974 million, marking the highest total since November 6, 2021.

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No problem. This is the Biden economy for, what...The next 3.5 years?

#1 | Posted by Zed at 2025-06-26 09:51 AM | Reply

Remember ScottS trotting out economic numbers to brag about Trump.

All downward revised now.

#2 | Posted by Sycophant at 2025-06-26 10:25 AM | Reply

But but this can't be right!

Scotts the Stupid only spits out 100% true facts!

#3 | Posted by donnerboy at 2025-06-26 11:02 AM | Reply

Scotts the Stupid only spits Groks out 100% true facts!

#4 | Posted by REDIAL at 2025-06-26 11:04 AM | Reply

Fresh data released Thursday morning by the Labor Department showed the number of people receiving jobless benefits for at least one week rose by 37,000 to 1.974 million, marking the highest total since November 6, 2021.

Felon 47 is putting up numbers not seen since the pandemic. Most impressive.

#5 | Posted by reinheitsgebot at 2025-06-26 02:22 PM | Reply

@#5

US labor market softening as more people remain on unemployment rolls
www.reuters.com

... Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 236,000 for the week ended June 21, the Labor Department said. Economists polled by Reuters had forecast 245,000 claims for the latest week.

The data included last week's Juneteenth National Independence Day holiday, which likely injected a downward bias.

Cutting through the technical distortions, layoffs have picked up amid headwinds from the import duties.

The number of people receiving benefits after an initial week of aid, a proxy for hiring, jumped 37,000 to a seasonally adjusted 1.974 million during the week ending June 14, the highest level since November 2021, the claims report showed. ...


Recent college grads seem to be having a particularly rough time finding a job, apparently facing headwinds from both the economy and AI.



#6 | Posted by LampLighter at 2025-06-26 02:45 PM | Reply

Squats gets his "facts" from the same place I leave a ----.

#7 | Posted by LegallyYourDead at 2025-06-26 04:56 PM | Reply

You can always tell how robust the economy is by how many applicants you get for open law enforcement jobs. When I applied to a large county agency in the early 2000s there were over 500 applicants testing for 30 openings. The last few years, it's been about 5 to 10 per opening. We're hiring for one spot now, and we've had 30 applicants. We are headed to a recession.

#8 | Posted by _Gunslinger_ at 2025-06-27 05:16 AM | Reply

It is pretty clear to me that we are in recession. Not a severe one...yet...but still recession. I see companies, including my own, reducing new investment and laying people off.

#9 | Posted by johnny_hotsauce at 2025-06-27 10:49 AM | Reply

'Big drop in income': Chief economist reveals real inflation numbers

www.alternet.org

Another feather for the bankruptcy-prone orange pedo's wig.

#10 | Posted by reinheitsgebot at 2025-06-27 01:53 PM | Reply

another great thread to say -- DIP SCHIIZZ

"Stock Market on June 27, 2025: S&P 500, Nasdaq close at all-time highs; U.S. stocks shake off Trump's remarks about trade with Canada"

www.marketwatch.com

#11 | Posted by shrimptacodan at 2025-06-27 07:42 PM | Reply

another great thread to say -- DIP SCHIIZZ
part two.

"Wall Street economist who ripped Trump admits prez may have outsmarted all of us' on tariffs "

--.Torsten Slk, chief economist at investment giant Apollo Global Management, said that while the uncertainty surrounding trade policy has already started to weigh on the economy, Trump could lower tariffs on most of the US trading partners while using the levies to boostfederal revenue.
Slk suggested in a recently posted analysis that the administration's approach may be more strategic than previously thought.

nypost.com

#12 | Posted by shrimptacodan at 2025-06-27 07:44 PM | Reply

Another feather for the bankruptcy-prone orange pedo's wig.

#10 | Posted by reinheitsgebot a

AS I showed in post 11-12 "you people" are full
of -------.

the only thing bankrupted is you..

as in brains / class and integrity.

#13 | Posted by shrimptacodan at 2025-06-27 07:47 PM | Reply

Personal income decreased $109.6 billion (0.4 percent at a monthly rate) in May, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)"personal income less personal current taxes"decreased $125.0 billion (0.6 percent) and personal consumption expenditures (PCE) decreased $29.3 billion (0.1 percent). Personal outlays"the sum of PCE, personal interest payments, and personal current transfer payments"decreased $27.6 billion in May.

www.bea.gov

The demented orange pedo strikes again.

#14 | Posted by reinheitsgebot at 2025-06-28 01:36 PM | Reply

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