The main factors behind the economic downturn in the United States are high inflation, supply chain problems and rising interest rates.
Euskaraz irakurri: AEBko ekonomiak % 0.2ko beherakada izan du eta atzeraldi teknikoan sartu da
The economy of the United States shrank by 0.2% in the second quarter of the year and thus chains two quarters of the declines in gross domestic product (GDP), due to the global crisis caused by the war in Ukraine and runaway inflation.
Data published by the Bureau of Labor Statistics (BEA) confirms a second consecutive decline in GDP, traditionally regarded as a technical recession.
However, a diagnosis not shared by the US government, which does not believe the country is in a recession scenario given the robustness of its economy.
The data for the second quarter of 2022, the first of three estimates from the US Executive, comes after the economy shrank 0.4% in the first quarter.
According to the BEA’s report published Thursday, which calculates an annual decline of 0.9%, the factors of this setback are high inflation, supply chain problems and the rising interest rates. In return, he emphasized unemployment.
Similarly, there were declines in private investment, in real estate (residential and non-residential), in federal, state and local government spending, which were partially offset by increases in exports and consumer spending. Imports from their side increased.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
