Gustavo Cortes

UF expert on recessions explains the GDP decline

U.S. Gross Domestic Product (GDP) shrank for the second quarter in a row marking the beginning of a recession, however, Assistant Professor Gustavo Cortes explains the economic situation is mixed.

“We have good news, we have bad news, all at the same time,” said Cortes, who has a doctorate in economics. “The bad news for example… the GDP numbers were released. We had another decline this time close to one percentage point. At the same time, you also have good news on the labor market side.”

Hear more from Cortes in this news piece from WCJB