Photo: Catherine Koppel / Reuters
In the United States announced the completion of continuous economic growth. The worst slump since the great depression is now officially called a recession, according to CNBC, citing the National Bureau of economic research.
The organization does not use the conventional concept of technical recession, meaning the decline in GDP for two consecutive quarters. Instead, it relies on the analysis of indicators such as output and unemployment.
According to analysts of the Bureau, the U.S. economy has entered a recession since February, when there was a decline in economic activity due to the crisis caused by the pandemic COVID-19. Before that the American economy grew for 11 years.
Financial Corporation Goldman Sachs suggested that, despite the scale of the problems, the recession will be short-lived. Most experts say about overcoming difficulties in the second quarter.
In the first quarter US GDP fell by 4.8 percent. The main reasons analysts called the decline in revenue from the health sector, as well as falling demand from businesses and schools.
Video, photo All from Russia.