these eight economists arbiters of the recession

The United States has officially experienced two successive quarters of declining GDP, which corresponds to the most commonly accepted definition of a recession. But not in the United States where that decision rests with eight economists from a small independent body called the Business Cycle Dating Committee. In most other countries, the mass would be … Read more

US GDP contracts again in second quarter

Production has already experienced a drop of 1.6% during the first three months of the year. The fear of a recession is more topical than ever. The gross domestic product (GDP) of the United States contracted again in the second quarter, by 0.9% at an annualized rate, which increases the risks of seeing the world’s … Read more

consumer confidence down in July for the 3rd consecutive month

Consumer confidence in the United States continued its negative spiral in July for the third consecutive month, amid lingering fears of recession, according to the Conference Board index released on Tuesday. The index now stands at 95.7 points, a drop of 2.7 points compared to June, the data for which was also revised downwards (98.4 … Read more

US recession not ‘inevitable’, says Treasury Secretary

US Treasury Secretary Janet Yellen said on Sunday that a recession is not “inevitablein the United States, a few days after a new increase in the key rates of the American central bank which raises fears of the prospect of an economic contraction. “I don’t think a recession is inevitableā€œ, said Janet Yellen on the … Read more