US economy enters recession

The National Bureau of Economic Research, which has traditionally observed a change in the economic cycles in the United States, has officially announced that the American economy entered a recession in February 2020.

It is reported by Interfax. The recession marked the end of the 128-month growth that began in June 2009. This has been the longest recovery period in the U.S. since the bureau began to observe in 1854.

According to the traditional definition, a recession is a decline in GDP for two consecutive quarters.

However, members of the National Bureau are looking at a wider range of factors: primarily the monthly change in economic trends.