Tag: pushes

Pandemic pushes US into official recession

Image copyright Getty Images The economic downturn in the US triggered by the pandemic has been officially declared a recession. The National Bureau of Economic Research made the designation on Tuesday, citing the scale and severity of the current contraction. It said activity and employment hit a “clear” and “well-defined” peak in February, before falling. The ruling puts a formal… Read more →

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Coronavirus pushes German economy into recession

Image copyright Getty Images Germany’s economy shrank by 2.2% in the first three months of this year as the coronavirus pandemic pushed it into recession, official figures indicate. It was the biggest quarterly fall since 2009, when the country was engulfed in the global financial crisis. The figures from the Federal Statistics Office come as Germany takes its first tentative… Read more →