The US economy in the second quarter was the worst in terms of dynamics in the G7
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The US economy showed the worst dynamics among the G7 countries, screening by 0.2% QoQ. According to Interfax, this became clear after the United Kingdom, the last of the countries of the association, published data (pdf) on the state of their economy in the second quarter.
How the G7 economies rose and fell in the second quarter:
- Canada — growth by 1.1%,
- Italy — growth by 1%,
- France — growth by 0.5%,
- Japan — growth by 0.1%,
- Germany – zero growth,
- United Kingdom — decrease by 0.1%,
- USA — decrease by 0.2%.
In the first quarter, according to the Organization for Economic Cooperation and Development, the US economy also showed the worst result in the “big seven” – it sank by 0.4%. The second consecutive quarterly decline in GDP fits the standard definition of a recession, but the National Bureau of Economic Research defines a recession as “a significant economy-wide decline in economic activity lasting more than a few months, usually noticeable in output, employment, real income, and other indicators.”
What is happening with the American economy – in the material “Kommersant” “The US labor market has not noticed a recession”.
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