Overview

• Japan and the United Kingdom have entered a recession, marking a second consecutive quarter of economic decline.
• The US economy has shown resilience, continuing to grow for a sixth straight quarter despite high interest rates and inflation.
• US consumer spending remains strong, supported by government stimulus and pay raises, contributing significantly to the economy's strength.
• In the UK, discussions of austerity measures and tax cuts emerge as the economy contracts and living standards drop.
• Economic challenges persist globally, with inflation and high borrowing costs posing risks to sustained growth.