NATO allies have reportedly agreed to hike their defense spending to 5% of gross domestic product (GDP) by 2035. One chart shows what a big ask that is.

The decline in GDP is a notable shift from the final quarter of last year, which saw economic output increase by a solid 2.4%. It also marks the only time, other than one quarter in 2022, that the ...

As we learned on Thursday, GDP rose at an annual rate of 2.3%. And consumer spending is a key contributor. It rose 4.2% for the quarter. Spending on durable goods — items designed to last, ...