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US Economy Seen Narrowly Averting Back-to-Back Contractions

  • Second-quarter GDP forecast to rise 0.4% after 1.6% drop
  • Underlying demand metrics seen weakening on inflation bite
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Fed Can Avoid Recession This Year: JPMorgan's Michele
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The US economy may have eked out modest growth in the second quarter, skirting back-to-back quarterly contractions, but rising at a tepid enough pace to feed concerns of an eventual downturn.