The United States are officially in recession

Les États-Unis entrent officiellement en récession

Photo: Nati Harnik Associated Press
There were 1.43 million new unemployment claims last week in the United States.

The GDP of the United States has fallen from 32.9% in the second quarter, in annualized terms, a second consecutive quarter of decline, which marks the official entry of the first global economy in recession, according to a preliminary estimate from the Commerce department released on Thursday.

This fall, significantly less than the 35 % expected by analysts, “reflects the answer given to the COVID-19, with the containment measures imposed in march and April, partially offset by the reopening of a part of the activity in certain regions of the country in may and June,” details the department of Commerce in its press release.

The measure used in the United States for estimating the growth is the change in (annualized), which compares the GDP for the previous quarter, and projects the evolution over the entire year at this rate. It differs from the year-on-year, which compares GDP to the same quarter of the previous year.

Other details will follow.

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