The United States went into recession in February after 128 months of expansion, according to the committee, which referred the matter to the United States, which has even revised its definition because of the brutality of the shock caused by the pandemic of sars coronavirus.
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“The peak of the economic activity monthly occurred in the u.s. economy in February 2020. This peak marks the end of the expansion that began in June 2009 and the beginning of a recession. The expansion lasted 128 months,” said Monday the committee of the dating of economic cycles from the National Bureau of Economic Research, whose authority in the matter.
The traditional definition of a recession involves a decline in economic activity for two consecutive quarters, but the committee “has concluded that the magnitude of the unprecedented decline in employment and production, and its spread to the economy as a whole, deserve to present this episode as a recession, even if it had to be shorter than contractions earlier,” notes the Committee in a press release.
A drop in GDP of 5% in the first quarter
The pandemic that has hit the United States in the beginning of the year has made it almost 110.000 dead to this day according to official figures, and brought to its knees the first economy in the world. In all countries, local authorities have taken measures containment more or less severe, which were put brutally to the shutdown of entire sectors of the economy such as tourism or catering, as well as a part of manufacturing production.
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Several tens of millions of Americans are registered as unemployed for the month of march, and the GDP has fallen nearly 5% in the first quarter. Economists predict that it will unscrew by around 20% in the second quarter when the containment measures involved the greater part of the population.
The first economy in the world, however, shows some signs of recovery after the partial reopening of a part of the federated States and the injection of 3,000 billion dollars in aid to businesses and individuals, as well as thousands of billions of additional dollars in the form of cash granted by the u.s. central Bank.
The editorial team conseilleÉtats united States: surprise comeback to the creations of emploiL’global economy will contract by more than 5% in 2020, according to the Bank mondiale1 commentaireBraizhoule 08/06/2020 20:42
Fake news
How could it be growing under the black Obama ?
Evy dancele 08/06/2020 20:26
yes ,but now in spring grows when europe have taken for a decade …. the difference is more subtle because it has the size of a gap …
kivoa.wing 08/06/2020 20:15
CeTrump, what quiche !
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