Recession hit US in February, ending record-long expansion

UTC
US NEWS FEEDS > OHIO >

WASHINGTON — The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record.The economists said that employment, income and spending peaked in February and then fell sharply afterward as the viral outbreak shut down businesses across the country, marking the start of the downturn after nearly 11 full years of economic growth.A committee within the National Bureau of Economic Research, a trade group, determines when recessions begin and end. It broadly defines a recession as “a decline in economic activity that lasts more than a few months.”For that reason, the NBER typically waits longer before making a determination that the economy is in a downturn....

READ MORE >
Recession hit US in February, ending record-long expansion

Sponsored Content