CNBC Economy

The GDP report brought the economy in line with a common definition of recession. But we won't know for sure if it officially becomes one at least for months.

Treasury Secretary Janet Yellen said Thursday the U.S. economy is in a state of transition, not recession, despite two consecutive quarters of negative growth.

At a time when many consumers may have forgotten what deflation is, Wingstop said it's reaping the benefits of lower chicken wing prices.

Treasury Secretary Janet Yellen speaks at a news conference on Thursday afternoon, following the release of second-quarter GDP data.

Economists are forecasting the economy barely grew in the second quarter, and some expect that it actually contracted.

The Federal Open Market Committee released its post-meeting statement Wednesday on what it will be doing with interest rates.

The decline in sales coincided with mortgage rates soaring to over 6% last month.

Mortgage demand continues to drop, even though interest rates have come down slightly from recent highs.

Officially, the NBER defines recession as "a significant decline in economic activity that is spread across the economy and lasts more than a few months."

The nation's homebuilders are now experiencing a slowdown in sales and an increase in supply.

Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogic Case-Shiller National Home Price Index.

With second-quarter GDP data due out Thursday, the question of whether the economy is in recession will be on everyone's mind.

There are signs of shipping disruptions easing but movements in demand and inflation will continue to threaten supply chains.

Most company leaders say they've managed to navigate difficult times spurred by inflationary pressures at their highest level in more than 40 years.

Initial claims for unemployment insurance were expected to total 240,000 for the week ended July 16, according to Dow Jones estimates.

The pain in the mortgage market is only getting worse amid higher interest rates and inflation in the overall economy.

The median price of an existing home sold in June set yet another record at $416,000, an increase of 13.4% year over year.

China's holdings of U.S. debt have fallen below $1 trillion for the first time in 12 years. Rising rates have made Treasurys potentially less attractive.

The term draws on the concepts of "onshoring" and "nearshoring," which refer to the transferring of supply chains back home or closer to home.

Advance retail sales were expected to increase 0.9% in June, according to Dow Jones estimates.