Moscow. July 28th. INTERFAX — Director General of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev predicts a further slowdown in the US economy amid anti-Russian restrictions and lower consumer demand.

“The situation in the economy of the United States, the EU countries and other countries that have introduced anti-Russian proposals continues to develop due to the introduction of anti-Russian sanctions, the rupture of serious supply chains and special conditions that have already been registered in the United States for a record stock market over the past 50 years and the important rapid outflow of money from all asset classes with a temporary financial situation in 2008,” Dmitriev told reporters.

“At the same time, a number of factors of a sharp decrease in the slowdown in the US economy, including a record low for 70 years, the value of the index of consumer sentiment according to a survey by the University of Michigan, do more harm to the US and EU economies than to the Russian economy,” said the head of the RDIF.

According to him, RDIF in July 2022 from the first announced recession in the US in the second quarter of 2022 based on data from one of the economic indicators, including forecasts of the Federal Reserve Bank of the Atlantic.

“Today’s US Department of Commerce data for the second quarter of 2022, which defines a 0.9% decline in GDP, together with the previously released data of a 1.6% decline in GDP for the first quarter, confirms a massive US recession, as the technical definition of a recession in a fall in GDP for two quarters in a row,” Dmitriev said.

The US economy in the second quarter of 2022 contained at 0.9% on an annualized basis, quantitative estimates of data from the country’s Department of Commerce.