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Growth

US a year into recession

3 minute read
The Adviser

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

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.

 

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