Credit-card spending suggests economic recovery stalled out in July, JPMorgan says

Business Insider

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· A sharp increase in consumer spending activity froze in mid-July as new coronavirus outbreaks drive fears of a longer-than-expected recession.
· Credit-card data from the week ended July 18 show spending activity pausing its uptrend and stalling down 10% from the year-ago period, JPMorgan said in a Wednesday note.
· The...

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