Venezuela shows signs of dipping into recession

A decline in imports, a rise in inflation, and an increase in poverty levels in Venezuela all point to one thing: recession. Even though the Central Bank of Venezuela (BCV) has yet to publish the most recent GDP figures, analysts have determined that the South American country shows signs of slipping into a recession. A country is technically in a recession when it experiences more than two consecutive slow quarters, and according to El Universal, the decline in imports in Venezuela indicates a severely troubled economy. Bank of America analyst Francisco Rodriguez explained that if Venezuela’s imports continue following their downward trend, the total imports would decline by 35.5 percent in 2014. More…