The data suggests price increases are outpacing companies' increased costs.
Gross domestic income points to a more gradual cooling compared with GDP.
Despite evidence of an ongoing recession, consumer spending "remains resilient."
Inflation has continued to dominate consumers' attention.
A federal report also showed declines in business investment, government outlays and housing.
We may find out that the U.S. has entered a recession on Thursday.
Even some of the staunchest critics of work-from-home have changed their tune to attract and retain employees.
The contraction was led by a steep decline in service-sector activity.
Borrowing costs continue to erode the houses' affordability.
The tally was higher among parents with children under 18, millennials and Hispanic workers.
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