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A r u b a ’ s O N L Y E n g l i s h n e w s p a p e r
Aruba’s ONLY English newspaper
Recession has struck

some of the world's top

economies

By STAN CHOE and CHRIS- meant to slow the econo-
TOPHER RUGABER my and inflation.
AP Business Writers Give much of the credit to
NEW YORK (AP) — As some U.S. households, who have
of the world's biggest continued to spend at a
economies stumble into re- solid rate despite many
cession, the United States challenges. Their spend-
keeps chugging along. ing makes up the majority
Both Japan and the Unit- of the U.S. economy. Gov-
ed Kingdom said Thurs- ernment stimulus helped
day their economies likely households weather the ini-
weakened during the final tial stages of the pandemic
three months of 2023. For and a jump in inflation, and
each, it would be the sec- now pay raises are help-
ond straight quarter that's ing them catch up to high
happened, which fits one prices for the goods and Shoppers and sightseers walk on Fifth Avenue on Dec. 11, 2023, in New York.
lay definition for a reces- services they need. Associated Press
sion. On Thursday, a report
Yet in the United States, the showed that fewer U.S. there should help prop up nancial markets, ultimately for the United States than
economy motored ahead workers filed for unemploy- the economy. making loans to buy cars many other big economies.
in last year's fourth quarter ment benefits last week. Of course, risks still loom, and other things more ex- The mood on Wall Street is
for a sixth straight quarter It's the latest signal of a and economists say a re- pensive. Growing losses so positive that the main
of growth. It's blown past remarkably solid job mar- cession can't be ruled out. tied to commercial real es- measure of the U.S. stock
many predictions coming ket, even though a litany Inflation could reacceler- tate could mean big pain market, the S&P 500 index,
into last year that a reces- of layoff announcements ate. Worries about heavy for the financial system. topped the 5,000 level last
sion seemed inevitable be- has grabbed attention re- borrowing by the U.S. gov- But, for now, the outlook week for the first time.
cause of high interest rates cently. Continued strength ernment could upset fi- continues to appear better Continued on next page