of cheer on wall street: amazon shares soar as it racks up sales of $121 billion in the last three months. hello there. we start in the us, with fears of a recession in the world s biggest economy. in the world s biggest economy are rattling people. official figures out on thursday show it shrinking for the second quarter in a row. two quarters of negative growth are what many countries around the world would define as a recession. not so in the us, as we ll show you why in a minute. us gross domestic product declined at an annual rate ofjust under 1% between april and june. that comes after a steeper 1.6% decline in the first three months of the year. but that hasn t hit the labour market yet. us treasury secretary janet yellen said the economy is now at full employment with the unemployment ratejust 3.6%. meanwhile, prices for groceries, petrol and other basics are rising at the fastest pace since 1981. he s what president biden had to say. both chairman powell and many
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