Defying predictions of an impending recession, the U.S. economy is expanding at an annual rate of 2.6 percent, the Commerce Department announced on Thursday.
Consumer spending was up a modest 1.4 percent, but exports jumped by 14.4 percent. Government spending was up as well, rising 2.4 percent for the quarter, much of it coming in defense expenditures.
Investments in housing are down 26 percent as interest rates increase as consequence of Federal Reserve efforts to curb inflation.
Elon Musk is Twitter’s new owner
The drawn-out drama of Elon Musk’s purchase of Twitter reached a climax on Thursday as his $44 billion purchase of the social media company was completed.
According to The New York Times, Musk – who made billions as the founder of the Tesla automotive brand – has already discharged two top Twitter executives. He earlier suggested he would fire 75 recent of the firm’s employees.
Also in the News … “Long COVID,” the extended variety of the coronavirus, has affected 15 percent of American adults who tested positive for the illness, according to United Press International. Symptoms lasting more than two months are considered to be signs of the “long” affliction.
Sports: World Series starts on Friday
The first two games will be in Houston, the next three in Philadelphia.
Games Six and Seven – if needed – would be played back in Houston. Las Vegas is putting the Astros as the favorite.
Weather: A slight warming trend
The West Orange County should experience a slow and slight warming trend for the next few days, according to the National Weather Service. Friday should be mostly sunny with a daytime high of 75 and an overnight low of 56. Saturday will be a little warmer at 78 with an overnight low of 57. Sunday’s daytime high should creep up to 79.
Categories: The Wider World