For the first time in over a decade, the world has more debt than it can handle.

U.S. GDP shrinks for 2 quarters in a row, meeting the PMI survey’s quarterly forecast, with the slowdown in growth largely driven by the flattening out of business investment and manufacturing output.

According to U.S. Bureau of Labor Statistics data released Tuesday. The real unemployment rate remained at its 2016 peak of 10.1 percent as of June. With more than half 47 percent still at the previous record high in November 2015. The rate fell in May to 8.6 percent, while the rate started increasing again in June to a new low of 0.5 percentage points higher at 8.8 percent.

The main factors shaping this weakening are business investment declines and that “manufacturing investment will be flat this year,” said a UBS economist. Noting that manufacturing could still continue strong despite softening hiring. Due to a lack of demand for capital goods produced by companies. Such as Boeing Co., which is moving production overseas.

Currently, world economic output stands at $78 trillion, and as debt levels continue to increase, the output level is expected to fall to $77 trillion. The debt level at the end of 2018 was estimated to be $217 trillion, representing a nearly 17 percent increase from the previous year. While debt levels in many countries have fallen below pre-recession levels, countries such as the U.S., China, and other developed nations have seen rapid growth in debt since the crisis.

The International Monetary Fund (IMF) has estimated that the global debt overhang reached $1 trillion Tuesday, with output levels likely to dip below. American debt levels if falls below the current total bar of what some say is a technical recession. If the economy takes a turn for the worse and the U.S. Federal. Reserve raises rates more quickly than expected. It will become even more difficult to pay back what is now an unpayable amount of debt.