US recession began in February amid coronavirus pandemic, ending longest expansion in history

The US economy entered a recession in February as the coronavirus pandemic struck the nation, a group of economists declared on 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.A committee within the National Bureau of Economic Research, a trade…

Read the original article at South China Morning Post