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US a year into recession

Staff Reporter 1 minute read

The American economy is officially in recession the country’s National Bureau of Economic Research has confirmed.

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According to the Bureau, the United States has in fact been in recession for one year now, making it the first recession since 2001 and the longest US downturn in a quarter of a century.

US interest rates already sit at just one per cent but this news could prompt a further reduction when the Federal Reserve meets on December 16.

 

US a year into recession
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