Recession in America: US GDP on the green mark after two consecutive quarters of decline, no recession at the moment

Posted on 28th Oct 2022 04:53 pm by rohit kumar

Real Gross Domestic Product (GDP) in the US is back in the positive zone after two consecutive quarters of decline. The country's economy grew at an annual rate of 2.6 percent in the third quarter (July-September) of 2022, taking America out of the technical recession. A technical slowdown is defined as a negative growth in real GDP for two consecutive quarters.

 

The US Bureau of Economic Analysis said on Thursday, "Growth in real GDP showed growth in exports, consumer spending, non-residential fixed investment, federal government spending, and state and local government spending. There has also been a partial decrease in

 

Let us inform you that data from the US Bureau of Economic Analysis shows that in the January-March and April-June quarters, there was a decrease of 1.6 percent and 0.6 percent respectively in real GDP.

 

Also Read: Survey claims: The world is heading towards recession, yet central banks are increasing interest rates

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