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Month: September 2023

US consumer spending was much weaker in the second quarter than previously estimated

By Bryan Mena, CNN Washington, DC (CNN) — The Commerce Department’s final revision of second-quarter gross domestic product, the broadest measure of economic output, showed that economic growth was unchanged from the second estimate, holding at an annualized rate of 2.1%. However, consumer spending, America’s economic engine, was revised much lower, to a 0.8% annualized

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US government estimates economy grew last quarter at a 2.1% rate, unchanged from previous projection

By PAUL WISEMAN and CHRISTOPHER RUGABER AP Economics Writers WASHINGTON (AP) — The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged. The second-quarter expansion of the nation’s gross domestic product —

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Inspired by llamas, the desert and Mother Earth, these craftswomen weave sacred textiles

By MARÍA TERESA HERNÁNDEZ Associated Press COLCHANE, Chile (AP) — In northern Chile, Teófila Challapa learned to weave surrounded by the hills and sandy roads of the Atacama Desert. “Spin the threads, girl,” her grandmother told her a half a century ago. Aymara women like Challapa, now 59, become acquainted with wool threads under blue

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Peloton shares rise following a partnership with former foe Lululemon

By Jordan Valinsky, CNN New York (CNN) — Peloton and Lululemon, former foes, are teaming up together. The fitness companies announced a five-year “strategic global partnership,” which involves Lululemon ditching its Mirror fitness hardware and Peloton reducing production of its private-label line of fitness clothing. Financial terms of the deal weren’t disclosed. Beginning next month,

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