American Economy in Recession
Though, prognosis of some economists has not been true, recession has become severest since 2001
VLADIVOSTOK. 31 October. VOSTOK-MEDIA. GDP of the USA has decreased by 0.3%; this number has been officially declared by the U.S. Ministry of Trade. Though, the most pessimistic prognosis has not been true, recession has become the severest since 2001.
According to statistics of Ministry of Trade, in the previous quarter economy was growing by 2.8%.
The reason of recession is known to be reduction of consumer spendings which comprise 2/3 of the U.S. GDP.
For the first time since 1991 consumption has gone down by 3.1%.
Market of nondurable goods has been mostly hit. Such harsh reduction has not been witnessed since 1950.
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