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.
The people of the world may soon see even more dangerous effects due to climate change. If nothin
The Bharatiya Janata Party (BJP) on Sunday (December 8) once again attacked former Congress Presi
US President Joe Biden responded strongly to Russian President Vladimir Putin's statements on the
After the announcement of the Akhil Bharat Hindu Mahasabha to recite Hanuman Chalisa and consecra
Akshay Kumar and Tiger Shroff's film 'Bade Miyan Chhote Miyan' is going to be released in just a
After the snowfall in the mountains, now the cold has started increasing in the plains. In many s
India has a strong lead over Pakistan in ICC ODI Ranking, Team India is included in top 3
After clearing the West Indies, India has solidified its claim at number three in the ICC ODI ran
These days, global star Deepika Padukone is in the headlines more for her pregnancy than her film
Kartik Aaryan starrer's most awaited film 'Bhool Bhulaiyaa 3' is the third installment of this ho
Bigg Boss 18: Did Vivian Dsena flop in Bigg Boss 18? Housemates gave him the tag of 'least favorite'
Just a day after the grand premiere of Salman Khan's show 'Bigg Boss 18', the viewers of the show
