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US economy contracts again, fueling recession fears

By Martha White and Alicia Wallace, CNN Business The US economy shrank again in the second quarter, the Bureau of Economic Analysis said Thursday. Gross domestic product, a wide-ranging measure of economic activity, fell by 0.9% on an annualized basis from April through June. That decline marks a key symbolic threshold for the most commonly

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Last year’s backpack: Tapped out families are struggling to pay for back to school purchases

By Parija Kavilanz, CNN Business Shopping for back-to-school essentials is becoming a real struggle for families whose household budgets are stretched to the max by surging inflation. Mid-July is typically when shopping for necessities such as clothes, shoes, backpacks, classroom supplies and gadgets for the new school year gets underway in earnest. But as high

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