The economy of the us is in a recession in February - The Point

The pandemic of sars coronavirus has severely hit the economic activity in the United States. The country entered into recession in February after 128 months of

The economy of the us is in a recession in February - The Point

The pandemic of sars coronavirus has severely hit the economic activity in the United States. The country entered into recession in February after 128 months of expansion, according to the committee, that is a reference in the territory. "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, " suggests Monday, June 8, the committee of the dating of economic cycles from the National Bureau of Economic Research.

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 previous ". The pandemic that hit the United States in the beginning of the year has done nearly 110 000 dead to this day according to official figures, and brought to its knees the first economy in the world.

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The GDP has fallen nearly 5% in the first quarter

In all countries, the 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. Several tens of millions of Americans that are registered 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 billions of 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.

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Consult our folder : Coronavirus : the world stop

writing will advise you

Michel Richard – the day the earth stopped
Updated Date: 08 June 2020, 15:33

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