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Its economy contracted by 32.9% in the second quarter of 2020; the US enters a recession.

Andrea Lidwina 03/08/2020 11:00 WIB

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The U.S. economy contracted by 32.9% in the second quarter of 2020 compared to the previous year. This is the worst figure in history and pushed the U.S. to the brink of a recession.

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Its economy contracted by 32.9% in the second quarter of 2020; the US enters a recession.

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The U.S. economy contracted by 32.9% in the second quarter of 2020 compared to the same period the previous year. This is the worst economic contraction in U.S. history and pushed the country to the brink of a recession.

This sharp decline was caused by a collapse in household consumption, which contributes 67% to the GDP. High unemployment also contributed to the weakening of the U.S. economy.

Besides the United States, several other countries reported negative economic growth in the second quarter of 2020 and experienced recessions. These include Singapore, South Korea, Hong Kong, and Germany.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Its economy contracted by 32.9% in the second quarter of 2020; the US enters a recession.

Its economy contracted by 32.9% in the second quarter of 2020; the US enters a recession.

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Its economy contracted by 32.9% in the second quarter of 2020; the US enters a recession.

Its economy contracted by 32.9% in the second quarter of 2020; the US enters a recession.

Tags

Related Data

IMF and World Bank Predict Indonesian Economy Stable in 2026

World Bank Projects Indonesia's Economy to Grow Around 5% Until 2027

The Fed Cuts Interest Rates to 3.5%—3.75% in December 2025

China is the Top Destination for Indonesia's Non-oil and Gas Exports up to Q3 2025

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