GDP in America has fallen for the second consecutive quarter of the year. America's Real GDP (Gross Domestic Product) declined in the second quarter of the year 2022 at an annual rate of 0.9% from April to June. This decline in US GDP for the second consecutive quarter technically indicates a recession.
According to data from the US Bureau of Economic Analysis, the US GDP declined by 1.6% in the January to March quarter of 2022. According to experts, when real GDP shows a decline in two consecutive quarters, such a situation is technically kept in the category of recession.
Let us inform you that these figures showing the decline in GDP in the US for the second consecutive quarter have been released on an approximate basis and the agency will revise these figures on August 25 this year.
The Bureau of Economic Analysis said in a statement that the decline in real GDP was due to a reduction in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment, and partly exports and personal consumption. Indicates increase in expenditure etc.
Let us tell you that earlier this week, US President Joe Biden said that the country is not heading towards an economic recession. Talking to reporters, the US President had said, "I think the employment rate in the country is still the highest in history and we are also getting investors continuously." The US President had also said during this that the rate of our growth may slow down a bit, but to say that we are heading towards recession, would be wrong.
Along with slowing growth, the US is also passing through a period of the highest inflation in the past four decades. The US Federal Open Market Committee earlier this week decided to raise interest rates by 75 basis points to tackle rising inflation, to reduce demand in the economy.
China-Pakistan bent on destroying the world, an even more deadly virus than corona, together
The friendship between Pakistan and China is not hidden from countries around the world. China ha
Just as awards have started being sold in the name of Dadasaheb Phalke in every street
In the Aurangabad district of Bihar, an accident happened while making Prasad for Chhath Puja. Ab
England cricket team defeated India by 26 runs in the third T20 International match. In this matc
The two-day Shanghai Cooperation Organization (SCO) is underway in Samarkand, Uzbekistan. Pakista
A terrible landslide following heavy rains has wreaked havoc in Wayanad district of Kerala. Lands
Strong earthquake tremors in California, 2 people died; Richter scale 6.4 measured intensity
Earthquake tremors were felt in Northern California at 2.34 pm on Tuesday late night. The earthqu
The Reserve Bank of India (RBI) may increase the repo rate for the fourth time in a row to contro
Kolkata Doctor Murder Case: A new revelation has been made on the vandalism that took place on th
There are only a few days left for the T20 World Cup to begin. All the teams are busy preparing f
