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The US economy recorded a contraction in the first quarter of 2022 by 1.6%
The US economy recorded a contraction for the first time since the second quarter of 2020, as it contracted in the first quarter of 2022 by 1.6%, against expectations of a 1.5% contraction.
In the fourth quarter of 2021, the US economy grew by 6.9%.
The US economy recorded a contraction in the second quarter of 2020 by 31.4% when the Corona pandemic was ravaging the global economy, before growing in the next quarter by 33.4%.
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