Rising coronavirus infections threaten US economic recovery

Rising coronavirus infections across dozens of states are threatening the U.S. economic recovery, forcing businesses and consumers to freeze spending and keeping the unemployment rate stubbornly high. The government reported Thursday that retail sales rose a sharp 7.5% in June, but the positive trend was undercut by more recent data showing that credit card spending has stalled. A separate report showed that more than a million Americans sought unemployment benefits last week – a sign that companies continue to cut jobs as the virus slashes through the heavily populated Sunbelt. (Times-News)

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