The jobs data has triggered fears of a recession in the United States but many feel that these apprehensions are exaggerated. Instead, the US economy may slow down or have a shallow recession later in the current year, they believe.
The US Federal Reserve, the central bank, on Monday dispelled the speculation that the economy was in a recessionary freefall. It said rate cuts could be on cards to avoid such a situation.
A recession occurs when there are two straight quarters of decline in gross domestic product (GDP). However, in a broader sense, a recession happens