The gross domestic product of the United States of America recorded a decline in the second quarter of the current year ending in June in the preliminary reading, according to the report of the Bureau of Economic Analysis issued a while ago, by -0.9, compared to a decline of about -1.6 percent in the first quarter, contrary to expectations that indicated a growth of about 0.4%.
With these numbers, the American economy is technically entering the economic stagnation stage after two quarters of decline in growth, which will raise the temperature of the markets in the coming period, especially since the Federal Reserve confirmed that the economy is not expected to enter the recession stage.
The US dollar fell by about 0.30% after the figures were announced, trading at 106.60 levels, while the Japanese yen rose by more than 70 pips.
02/11/2024
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