Overseas Network, October 3 -- Bloomberg issued a warning on October 2 that considering that the US economy is facing multiple crises such as the strike of auto workers, the US economy may fall into recession within the year.
The challenges facing the U.S. economy include the ongoing massive strikes by auto industry unions, the risk of a government shutdown, and the recovery of student loan payments. The report predicts that as a result, US GDP growth in the fourth quarter will fall by at least one percentage point.
The report analyzes that the strikes of workers of the three major automobile manufacturers in the United States may cause billions of dollars in losses. Student loan payments after more than three years of suspension could also reduce annualized growth rates of about 0.2-0.3% in the fourth quarter. In addition, the US Congress has just passed the temporary appropriations bill, and although the government shutdown has been avoided for the time being, if the full-year appropriations bill cannot be agreed, there is still a possibility of a government shutdown, which may have an impact on the fourth-quarter GDP data.
The challenges facing the U.S. economy include the ongoing massive strikes by auto industry unions, the risk of a government shutdown, and the recovery of student loan payments. The report predicts that as a result, US GDP growth in the fourth quarter will fall by at least one percentage point.
The report analyzes that the strikes of workers of the three major automobile manufacturers in the United States may cause billions of dollars in losses. Student loan payments after more than three years of suspension could also reduce annualized growth rates of about 0.2-0.3% in the fourth quarter. In addition, the US Congress has just passed the temporary appropriations bill, and although the government shutdown has been avoided for the time being, if the full-year appropriations bill cannot be agreed, there is still a possibility of a government shutdown, which may have an impact on the fourth-quarter GDP data.