Africa-Press – Angola. In mid-afternoon yesterday, the Dow Jones index (which reflects the transactions of the 30 main companies listed on the New York Stock Exchange during the session) operated down 0.42 percent, falling to 32,062.40, under the influence of the of the 0.9 percentage point drop in US GDP in the third and second quarters.
The decline of the Dow Jones comes after, on Wednesday, the New York stock market has registered a sharp increase, with the index gaining 1.37 percent.
“Macroeconomic data plays a key role today and it hasn’t been good,” summarized Patrick O’Hare of Briefing.com, one of the world’s largest financial websites.
The US economy retreated 0.9 percent between April and June, at an annualized pace, recording a fall in Gross Domestic Product (GDP) for the second consecutive quarter, the Commerce Department said today.
In the first quarter, North American GDP had contracted by 1.6 percent, according to published data.
These data indicate that the world’s leading economy is entering a technical recession, which is defined by two consecutive quarters of negative growth, but this scenario has been ruled out by the US administration and several economists, who consider that the economy is not necessarily in recession, with other more favorable indicators.
On Wednesday, the Federal Reserve, the US central bank, announced a 75 basis point hike in the federal funds rate, continuing the path to try to curb inflation, which reached 9.1 percent in June.
The chairman of the Federal Reserve (Fed), Jerome Powell, assured, at the press conference held after the central bank meeting, that the economy is not in recession, but acknowledged that there is a slowdown.
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