US economy: US economy fell 0.9% in the second quarter of the year | International

The american economy it contracted in the last three months by 0.9% from April to June, raising fears that the country is approaching a recession.

This is the second consecutive quarter of negative economic growth in the USA. In the first quarter, the GDP or gross domestic product decreased at an annual rate of 1.6%.

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Treasury Secretary Janet Yellen noted that while two consecutive quarters of negative growth is often considered a recession, this is not the case for the United States, “when you’re creating almost 400,000 jobs a month, that’s not a recession.” .

The White House has also dismissed a possible recession even though the Federal Reserve continues to aggressively raise interest rates, by three-quarters of a percentage point for the second time in a row in its bid to combat inflation, the highest in four decades.

The report comes at a critical time. Consumers and businesses have been struggling under the weight of high prices and higher borrowing costs.

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