Fears of US going into recession as economy contracts for second consecutive quarter

The world’s largest economy has contracted for a second consecutive quarter, although the downturn is yet to be officially termed a recession.

The US recorded a 0.9% decline in output on an annualised basis between April and June, when economists had forecast an increase of 0.5%.

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

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