US media: In the second quarter of the United States, more than 0.6% of the economic atrophy of 0.6% caused "technical recession"

Beautiful people purchase in supermarkets (data chart)

Overseas Network August 26th. Amendment data released by the US Department of Commerce on the 25th shows that the annual rate of GDP in the second quarter of 2022 was calculated by 0.6%by annual rate. The Fox News Network reported on the same day that although the data was raised by 0.3 percentage points compared with the initial data released at the end of last month, it was still shrinking for two consecutive quarters, indicating that the United States is still in a "technical decline".

It is reported that the first quarter of the GDP has shrunk by 1.6%, which is the worst performance since the spring of 2020. According to the National Economic Research Agency (NBER), if the economic decline in two consecutive quarters can be regarded as entering "technical decline", it is characterized by high loss rate, low or negative growth of GDP, decreased income and slow retail sales slowdown. Essence

Recently, the decline in the US economy has been caused by a series of factors, including private inventory investment, residential and non -residential fixed asset investment, and the decline in federal government, state and local governments. In addition, due to high inflation, the purchasing power of consumers continued to shrink, and American personal consumption expenditure in the second quarter also increased by only 1.5%.

The article believes that the report will exacerbate the political crisis faced by the US government, and the current support rate of the US government will continue to decline due to the decline in the economy. In addition, the Fed's policy trajectory may be complicated, and the Fed must weigh how to curb inflation without affecting the economy. Although Fed Chairman Powell said he did not think that the US economy was in a decline, most economists predicted that the US economy would fall into a recession in mid -2023.

- END -