GDP

Iran Admits Recession After U.S. Sanctions Worse than Expected

The Iranian government published a report on Sunday showing the national Gross Domestic Product (GDP) contracted by 4.9 percent over the fiscal year ending March 21. The announcement revealed Iran’s economy contracted much more sharply than anticipated after U.S. sanctions were reimposed by President Donald Trump.

Iranian President Hassan Rouhani (L) arrives to attend a ceremony marking the country's annual army day in Tehran, on April 18, 2019. - Iran's President Hassan Rouhani called on Middle East states on April 18 to "drive back Zionism", in an Army Day tirade against the Islamic republic's archfoe Israel. …

Commerce Department Revises Second Quarter Growth Up to 4.2%

WASHINGTON (AP) — The U.S. economy grew at a strong 4.2 percent annual rate in the April-June quarter, the best showing in nearly four years, as growth stayed on track to produce its strongest full-year gain in more than a decade. Strength in business investment offset slightly slower consumer spending.

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