Business
2022.06.30 03:47 GMT+8

Recession worries grow as U.S. first quarter GDP falls short

Updated 2022.06.30 03:47 GMT+8
Owen Fairclough

U.S. economic output for the first quarter of the year suffered its third downward revision this Wednesday – raising further fears a recession is looming.

The weaker figure was blamed primarily on a widening of the U.S. trade deficit.

But amid rising inflation and growth forecasts already dramatically scaled back, there’s growing concern that the economy is headed for trouble next month.

CGTN’s Owen Fairclough reports.

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