Those revisions come out in June each year. The table below shows the initial estimates and all revisions for each quarter in Since the US is the biggest economy in the world, the contagion risks in case of a recession will spread to other major economies in the world, including India.
A slowdown in their business could upset many aspects of the Indian economyprecisely leading to increased job losses.
But it was the downfall of Lehman Brothers, effects of which soon spread across continental borders, that set the panic of recession.
The fiscal austerity that hamstrung recovery from the Great Recession was not simply the result of good-faith-but-sadly-mistaken efforts to genuinely assess what the economy needed.
Another way for the Fed to amplify the need for fiscal policy support for ending recessions and spurring recovery is to adopt even stronger unconventional monetary policy tools.
Sales were above the high end of the estimate range which was 17 million. But does the contraction of economy spell fear of an impending recession?