{"id":9383,"date":"2024-09-10T06:56:38","date_gmt":"2024-09-10T06:56:38","guid":{"rendered":"https:\/\/jewellerynewsindia.com\/?p=9383"},"modified":"2024-09-10T07:01:10","modified_gmt":"2024-09-10T07:01:10","slug":"the-u-s-economy-shows-signs-of-avoiding-a-recession-nrf","status":"publish","type":"post","link":"https:\/\/jewellerynewsindia.com\/index.php\/2024\/09\/10\/the-u-s-economy-shows-signs-of-avoiding-a-recession-nrf\/","title":{"rendered":"The U.S. economy shows signs of avoiding a recession: NRF"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-full is-resized has-custom-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"875\" height=\"621\" src=\"https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/09\/IMG-1-6.jpg\" alt=\"\" class=\"wp-image-9385\" style=\"border-width:3px;border-radius:5px;width:599px;height:auto\" srcset=\"https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/09\/IMG-1-6.jpg 875w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/09\/IMG-1-6-300x213.jpg 300w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/09\/IMG-1-6-768x545.jpg 768w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/09\/IMG-1-6-200x142.jpg 200w, https:\/\/jewellerynewsindia.com\/wp-content\/uploads\/2024\/09\/IMG-1-6-600x426.jpg 600w\" sizes=\"(max-width: 875px) 100vw, 875px\" \/><\/figure>\n\n\n\n<p>The US economy appears to have avoided a recession, according to <a href=\"https:\/\/nrf.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">National Retail Federation (NRF)<\/a> Chief Economist <a href=\"https:\/\/nrf.com\/about-us\/nrf-staff\/jack-kleinhenz\" target=\"_blank\" rel=\"noreferrer noopener\">Jack Kleinhenz<\/a>, as it slows but continues to grow and inflation falls as the <a href=\"https:\/\/www.federalreserve.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve<\/a> prepares to decrease interest rates.<\/p>\n\n\n\n<p>&#8220;The U.S. economy is clearly not in a recession nor is it likely to head into a recession in the home stretch of 2024,&#8221; according to <a href=\"https:\/\/nrf.com\/about-us\/nrf-staff\/jack-kleinhenz\" target=\"_blank\" rel=\"noreferrer noopener\">Kleinhenz<\/a>. &#8220;Instead, it appears that the economy is on the cusp of nailing a long-awaited soft landing with a simultaneous cooling of growth and inflation.&#8221;<\/p>\n\n\n\n<p>Despite a &#8220;eventful August&#8221; with initial reports of growing unemployment and a manufacturing slowdown, more recent data has &#8220;calmed fears of a deteriorating U.S. economy,&#8221; <a href=\"https:\/\/nrf.com\/about-us\/nrf-staff\/jack-kleinhenz\" target=\"_blank\" rel=\"noreferrer noopener\">Kleinhenz<\/a> said. &#8220;Concerns are now focused on the direction of the labour market and the possibility of a job market slowdown, but a recession is far less likely.&#8221;<\/p>\n\n\n\n<p><a href=\"https:\/\/nrf.com\/about-us\/nrf-staff\/jack-kleinhenz\" target=\"_blank\" rel=\"noreferrer noopener\">Kleinhenz<\/a>&#8216;s comments were in the September issue of the <a href=\"https:\/\/nrf.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">NRF<\/a>&#8216;s Monthly Economic Review, which stated that annualised GDP growth for the second quarter had been revised up to 3% from the previous estimate of 2.8%. Consumer expenditure, the main component of GDP, was revised up to 2.9% growth in the quarter from 2.3%. Spending has slowed this year after surging in the second half of 2023, but &#8220;the American consumer has been resilient.&#8221;<\/p>\n\n\n\n<p>The year-over-year increase rate in the Personal Consumption Expenditures Price Index, the Fed&#8217;s preferred measure of inflation, was 2.5% in July, unchanged from June and only half a percentage point above the Fed&#8217;s 2% target.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US economy appears to have avoided a recession, according to National Retail Federation (NRF) Chief Economist Jack Kleinhenz, as it slows but continues to grow and inflation falls as the Federal Reserve prepares to decrease interest rates. &#8220;The U.S. economy is clearly not in a recession nor is it likely to head into a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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href=\"https:\/\/jewellerynewsindia.com\/index.php\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","rttpg_excerpt":"The US economy appears to have avoided a recession, according to National Retail Federation (NRF) Chief Economist Jack Kleinhenz, as it slows but continues to grow and inflation falls as the Federal Reserve prepares to decrease interest rates. &#8220;The U.S. economy is clearly not in a recession nor is it likely to head into 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