Wednesday,  December 11 , 2024

Linkedin Pinterest
News / Nation & World

Economists: U.S. recession began in February

Decline arrived after nearly 11 years of economic growth

By Associated Press
Published: June 8, 2020, 6:57pm

WASHINGTON — The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared Monday, ending the longest expansion on record.

The economists said that employment, income and spending peaked in February and then fell sharply afterward as the viral outbreak shut down businesses across the country, marking the start of the downturn after nearly 11 full years of economic growth.

Thank you for reading The Columbian.

Subscribe for only $99/year to get unlimited access.

Already a subscriber? Sign in right arrow icon

Support local journalism

Your tax-deductible donation to The Columbian’s Community Funded Journalism program will contribute to better local reporting on key issues, including homelessness, housing, transportation and the environment. Reporters will focus on narrative, investigative and data-driven storytelling.

Local journalism needs your help. It’s an essential part of a healthy community and a healthy democracy.

Community Funded Journalism logo
Loading...