Economy
US economy falls into recession
The US economy shrank in the spring. After a decline in economic output at the beginning of the year, gross domestic product fell by 0.9 percent on an annualized basis in the second quarter.
This was announced by the Department of Commerce on Thursday. Experts had expected growth of 0.4 percent. Since the US economy shrank by an annualized 1.6 percent in the first quarter, the definition of a recession is met. This is what economists talk regarding when economic output falls two quarters in a row.
US growth figures are extrapolated for the year, i.e. annualized. They are therefore not directly comparable with growth data from Europe, where this is not the case.
The USA is one of Switzerland’s most important trading partners. (SDA)
