The US economy fell 0.2% in the second quarter of the year, between April and June, the US government’s Office of Economic Analysis (BEA) said.
This figure would mean falling into recession in American economyas its gross domestic product (GDP) has already fallen 0.4% in the first three months of the year.
From a technical point of view, an economy is considered to enter a recession when it shows a fall in GDP for two consecutive quarters, which, however, is not shared by the US government.
Fall in the second trimester
The American organization BEA explained that there was a decrease between April and June private investment in inventories, fixed capital investment, government spending, and non-residential investment.
But they argue that these setbacks have been partly offset by rising exports and consumer spending.
They also note that economic downturn The second quarter was marked by “continued inflation”, low unemployment, rising interest rates and persistent supply chain problems.
How much is US GDP?
The latest data show that at the end of the second quarter of the year, US GDP was 2.5%, higher than at the end of the fourth quarter of 2019.
But if we consider annual terms, it becomes obvious that economy The US contracted 0.9% in the second quarter of the year.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.