For the second consecutive time , and in the second quarter of the year, the US economy decreased 0.6% compared to the same period last year.
In the first quarter, a drop in GDP of 1.6% was also reported, two continuous periods of decline indicate a recession, but, for a group of economic specialists to determine, other factors such as debt and the international context.
Technically speaking, a recession occurs when there is a contraction in the Gross Domestic Product (GDP) for two consecutive quarters, details the financial community site Rankia. But they are not the only elements to determine it, according to Gabriela Siller, director of economic-financial analysis at Banco Base.
"The smaller decline in the second quarter, compared to the first quarter, reflected a rebound in exports and an acceleration in consumer spending," reported the Bureau of Economic Analysis (BEA, for its acronym in English).
He asserted that the second-quarter decline was the same as previously estimated in the "second" estimate released in August.
